IRAN GRANTS ~@25 MILLION FOR IRAN-ARMENIA POWER LINE CONSTRUCTION

Vestnik Kavkaza
May 31 2012
Russia

Iran has granted about ~@25 million for the construction of a third
Iran-Armenia power line with 400 kW of power, Director General of
the High-Voltage Electric Lines Saak Abramyan said, Interfax reports.

The funds will arrive in June. Construction will take 18 months.

The project is worth ~@107.9 million. ~@83.083 million was granted
by the Bank for Export Development of Iran in September 2011. The
remaining ~@24.817 million will be co-financed by the Armenian
government, but it lacked the necessary sum.

The loan will be provided for 5 years with the first two years as a
beneficial period at the CIRR+1% rate.