Agence France Presse — English
April 8, 2005 Friday

Armenia calls for German loans to construct power station

YEREVAN

Armenia is holding talks with several German-based companies and
banks in the hopes of procuring 100 million euros for construction of
a hydro power station in the energy-strapped state, energy ministry
officials said.

“We are currently holding talks with Germany’s KFW bank for a loan on
preferential terms,” the ministry’s spokesman Levon Vardanyan said
late Thursday, adding that technical and economic basis for the
station was drawn up by the German-based Fichtner firm.

The Lori-Berdsky station, which would be constructed on the Debed
river within the next two years, is expected to produce up to 300
million kilowatt-hours a year.

The KFW bank is due to loan Armenia six million euros this year to
upgrade its smaller hydro power stations, Vardanyan added.

The impoverished former Soviet republic of Armenia has suffered from
severe energy shortages since the collapse of the Soviet Union in
1991.

From: Emil Lazarian | Ararat NewsPress