$69m Japan loan for Iran power project

Published October 29th, 2000 - 02:00 GMT

Japan said yesterday it was extending a $69m loan to help complete an Iranian power project, ahead of next week’s visit to Tokyo by Iranian President Mohammad Khatami. 

 

The state-run Japan Bank for International Co-operation said it would lend 7.49 billion yen ($69 million) for the Masjid-e Soleiman hydroelectric power project in southwest Iran.  

 

The project, run by the Iran Water and Power Resources Development Co., involves the construction of a rock-fill dam and a 2,000-megawatt underground power plant in Iran’s Karoon river basin.  

 

The official Japanese bank lent 38.6 billion yen for the first phase of the ambitious project in June 1993, and it said in a statement that the new loan aimed to help finance the remaining work. 

 

The announcement comes just before Khatami arrives on Tuesday to pay the first official visit to Japan by a top Iranian leader in 42 years. He will hold talks with Prime Minister Yoshiro Mori during his four-day visit. – AFP 

©--Agence France Presse. 

 

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