June 05th, 2012 | Xinhua Dam cancelation denied
Sinohydro Group said Monday it has not received any written notification that Iran has canceled a $2 billion contract for it to help build a hydroelectric dam in the country.
Media reports said last week that Iran had canceled the contract to build the dam in Iran’s western province of Lorestan over a dissatisfaction of financing options offered by China.
“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 Monday.
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 in 2011.