CONSORTIUM OF JAPANESE AND SOUTH KOREAN COMPANIES TO BUILD NEW UNIT OF YEREVAN TPP

Noyan Tapan
Dec 20 2007

YEREVAN, DECEMBER 20, NOYAN TAPAN. The consortium composed of Mitsui &
Co. LTD (Japan) and GS Engineering & Construction Corporation (South
Korea), which has been announced the winner of the international
tender, will construct the Yerevan Thermal Power Plant’s (TPP)
steam-and-gas unit with a combined cycle, NT correspondent was informed
by the RA ministry of energy.

The consortium will apply to the Armenian government with the request
to receive an extra sum for the implementation of the construction
work. The sum needs to be increased due to the fact that prices of some
equipment have risen since 2005 when the agreement on financing the
unit’s construction was signed between the Japan Bank for International
Cooperation (JBIC) and the Armenian government. To recap, the JBIC
provided a credit of 15 billion 917 million yens (about 150 million
dollars) for construction of the turbine.

It is planned to finish construction of the unit in September 2009.

According to NT’s information, Alstom and Siemens (Germany), Samsung
(South Korea) and Sumitomo (Japan) had also submitted bids for
participation in the above mentioned tender.