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Iran Seeking Funds For Construction Of Another Joint Electric Main W

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  • Iran Seeking Funds For Construction Of Another Joint Electric Main W

    IRAN SEEKING FUNDS FOR CONSTRUCTION OF ANOTHER JOINT ELECTRIC MAIN WITH ARMENIA

    YEREVAN, June 3. /ARKA/. Iran will find funds for construction of
    the third Iran-Armenia electric main in the near future to ensure
    delivery of Armenian electricity to Iran in exchange for gas supplied
    to Yerevan Heat Power Plant, Armenian deputy minister of energy and
    natural resources Ara Simonyan said.

    The delay in implementation of the project occurred due to the
    situation around Iran and economic problems, as well as because of
    the difficulties in transferring money between the two banking systems
    due to sanctions over Iran, the deputy minister said.

    "It looks like both problems are already overcome, and the newly
    appointed minister of energy Yervand Zakharyan is expected to visit
    Iran in the next month. We would also like to have a complex discussion
    about the issue at the meeting of Armenian-Iranian intergovernmental
    commission', Simonyan said at a 2013 budget execution hearing in
    the parliament.

    The deputy minister expressed hopes the forthcoming visit will help
    solve the funding problem. At least, Iran's willingness to do it is
    obvious, he said.

    Simonyan also said the total cost of the project is 107.9 million
    euros, including 27.5 million euros to be provided by the Armenian
    side.

    The deputy minister stressed the construction of the third Iran-Armenia
    electrical transmission line is an important regional cooperation
    project in energy sector. So is the construction of an electric main
    toward Georgia, with KfW having provided 75 million euros in loan
    and a grant worth 2 million for the project, Simonyan said.

    The construction of the electric main from Iran to Armenia is
    implemented by Sanir Iranian company that was granted tax and customs
    privileges by the Armenian government. The construction will be funded
    by the Export Development Bank of Iran. -0--

    - See more at:
    http://arka.am/en/news/economy/iran_seeking_funds_for_construction_of_another_joi nt_electric_main_with_armenia/#sthash.Tc6MEiow.dpuf

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