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China’s Sinohydro says no notification of Iran dam cancellation

China-Sinohydro Group

China's Sinohydro Group said it has not received any written notification that Iran has cancelled a $2 billion contract for it to help build a hydroelectric dam in the country

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June 4, 2012 11:00 by



China’s Sinohydro Group said it has not received any written notification that Iran has cancelled a $2 billion contract for it to help build a hydroelectric dam in the country.

On Thursday, Chinese state media reported Iran had cancelled the contract to build the dam in Iran’s western province of Lorestan over a dissatisfaction of financing options offered by China.

“Up till now, the company has not received any written notice from the owners to cancel the Bakhtiary Dam project,” Sinohydro said in a statement to the Shanghai stock exchange.

The firm also said the project’s financing has not been settled and therefore the contract is not yet valid.

Sinohydro won the project with Iran’s hydro firm Farab in March last year.

(Reporting by Melanie Lee; Editing by John Mair)



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