EDBI TO FINANCE POWER LINE PROJECT IN ARMENIA
Mehr News Agency, Iran
May 19 2006
TEHRAN, May 19 (MNA) — The Export Development Bank of Iran (EDBI)
will finance construction of a power transmission line in Armenia.
The bank will offer 85 percent of the contract fee to the project
contractor for the building of the power transmission line. Repayment
of the credit will be made over a five-year period, noted the bank’s
chairman Noruz Kohzadi.
The project will offer new venues for the exchange of 800 megawatts of
electricity between the Islamic Republic and the Republic of Armenia,
he asserted.
The project aimed at development of the exports of the technical and
engineering services is to receive its insurance coverage through
Export Guarantee Fund of Iran (EGFI), he explained.
The line to be built in the Armenian territory will totally extend
312 kilometers, the official said.