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 [email protected] million. [email protected] million was granted
by the Bank for Export Development of Iran in September 2011. The
remaining [email protected] 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.
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