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EDBI to finance power line project in Armenia

TEHRAN, May 19 (Mehr News Agency) -- 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.

... Payvand News - 5/21/06 ... --

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