“Mitsubishi” to Make Investmen’s in Armenia

YEREVAN (Noyan Tapan)–Minister of Coordination of the Industrial Infrastructure Activities Vahan Shirkhanian held a meeting with the representatives of the Japanese "Mitsubishi" company to discuss prospects for cooperation in the energy sector and mining and smelting industry.

The company’s representatives suggested the construction of a thermal power plant (TPP) with a capacity of 400 megawatts in Armenia. The Japanese side will finance the construction by issuing a soft credit for a period of 40 years to Armenia. The sides also discussed the construction and operation of small hydropower plants (HPP).

As to the mining and smelting industry–one of the representatives of the "Mitsubishi" company suggested a stage-by-stage re-equipment of the mining industry and concentrating mill in exchange for molybdenum concentrate. It was pointed out that specialists had already visited Zangezur at the first stage–and other specialists will arrive in March to make preparations for the other stages. A proposal was also made on involving the Japanese "Eximbank" in the implementation of further–larger-scale projects.

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