JAPANESE GOVERNMENT TO ALLOCATE ABOUT 100 MILLION DOLLAR CREDIT FOR
CONSTRUCTION OF NEW POWER UNIT OF YEREVAN TPP
YE REVAN, MAY 27, NOYAN TAPAN. The Japanese government will allocate an
additional credit of 10 bln 491 mln yens (about 100 mln USD) for
construction of a modern power unit with a steam-and-gas cycle at
Yerevan Thermal Power Plant (TPP). The document on provision of the
credit was signed on May 27 by the RA minister of energy and natural
resources Armen Movsisian and the Japanese ambassador to Armenia Yasuo
Saito. To recap, in 2005 the Japan Bank for International Cooperation
(JIC) allocated 15 bln 918 mln yens for construction of a new power
unit of the Yerevan TPP. However, according to A. Movsisian, taking
into account a considerable rise in prices of equipment, building and
assembly work in iternational market, as well as the results of the
tender for a chief contractor (a modern station with a capacity of 241
mw has been chosen instead of the envisaged one with a capacity of 205
mw), the Japanese government agreed to give an additional loan.
Ambassador Saito said that so far the Japanese government has provided
370 million USD to Armenia, including 300 mln USD to the energy sector.