Japan to provide $150 mil for modernization of Yerevan Thermal Plant

27.05.2005 02:50

/PanARMENIAN.Net/ Japanese Bank of International Cooperation will provide a 
credit of $150.2 million to the Armenian Government for modernization of the 
Yerevan Thermal Plant. The Armenian Parliament has approved of the 
respective agreement. Deputy Minister of Energy Ara Simonian, who presented 
the agreement, reported a new combined cycle energy bloc of 200-210 MW will 
be built at the Yerevan Thermal Plant due to the allocation. The plant is 
planned to function 7 thousand hours annually and to generate 1.4-1.5 kWh 
electric power. The program should be implemented by the Thermal Plant 
itself, to which the Armenian MPs have also provided tax benefits, the RBC 
reported.