JAPAN TO PROVIDE $150 MILLION TO ARMENIA FOR MODERNIZATION OF YEREVAN THERMAL PLANT

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.