Armenia secured on Tuesday a $150 million loan from the government of Japan to build a modern thermal power plant
Published:
31 March 2005 y., Thursday
Armenia secured on Tuesday a $150 million loan from the government of Japan to build a modern thermal power plant which officials said will considerably lower the average cost of power generation in the resource-poor country.
An agreement on the launch of the project was signed in Yerevan by Energy Minister Armen Movsisian and representatives of the Japan Bank for International Cooperation (JBIC). “This will be a very serious boost to our energy sector,” Movsisian said at the official ceremony.
“The Project is aimed at enhancing the power supply capacity of Armenia, thereby easing possible power shortages in the future and serving to develop the foundation supporting the economic growth of the country,” JBIC said in a separate statement.
The Japanese loan, repayable in 40 years, is to be used to finance the purchase of machinery and equipment, construction work and consulting services. The entire process will be overseen and supervised by JBIC. Tetsuo Ito, a senior official from the Japanese embassy in Moscow, said this will ensure that the implementation of the project is “free of corruption.”
Šaltinis:
bakutoday.net
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Today, the Commission published a Communication which outlines the most serious tax problems that EU citizens face in cross-border situations and announces plans for solutions.
more »
The European Commission has opened a formal investigation under EU state aid rules to examine a number of support measures, including several capital injections and shareholder loans, that the Hungarian authorities granted to Malév-Hungarian Airlines in the context of its privatisation and subsequent renationalisation.
more »
Internet and lax customs enforcement drive growth of 600 billion US dollar counterfeit goods industry.
more »
350 million people rose out of poverty in the past decade, but 1.4 billion are still extremely poor, says the latest report into rural poverty.
more »
New plan sets out action to reach 75% employment target for the EU by 2020.
more »
Research Ministers of the EU Member States and Associated Countries, together with the European Commission, are announcing in Brussels today three new pan–European energy research infrastructures.
more »
Algirdas Šemeta, Commissioner for Taxation, Customs, Audit and Anti-fraud, is visiting Moscow today to discuss ways in which customs cooperation between the EU and Russia can be reinforced.
more »
Following on from Monday's debate with ECB President Jean-Claude Trichet, MEPs on Tuesday adopted a resolution, by a show of hands, gauging the ECB's performance in 2009 and suggesting actions to be taken in view of the economic situation.
more »
The European Parliament today approved €10.5 million in European Globalisation Adjustment Fund aid to over 3,000 people in the Netherlands who lost their printing and publishing sector jobs last year, due to the economic crisis.
more »
A diamond-studded gold coin engraved with a picture of the Taj Mahal and worth 100,000 euros is unveiled at the Paris mint.
more »