Armenia Plans To Build NPP Due To Extrabudgetary Funds

ARMENIA PLANS TO BUILD NPP DUE TO EXTRABUDGETARY FUNDS

ArmInfo
2010-10-06 13:45:00

ArmInfo. No funds are envisaged in the budget 2011 for construction
of a new nuclear power unit at the Armenian NPP, Finance Minister of
Armenia Tigran Davtyan said at a press-conference, Wednesday.

According to him, it is scheduled that construction of the power
unit will be carried out due to extrabudgetary funds, in particular,
due to banks or investment companies.

“We have no legal basis to allocate budgetary funds, since no
agreement has yet been signed on construction of a power unit. The
same refers to the project of construction of Iran-Armenia railway”,
the minister said.

T. Davtyan added that the government of Armenia switches from an
extensive policy to a restrictive one beginning with 2011, and ‘it
will be more restrained in attraction of additional loans’.

To recall, at late 2009, the government of Armenia approved signing of
an agreement with Russia on construction of a new nuclear power unit
with capacity of 1060 MWt in its territory, with 60 years of lifetime.

According to preliminary estimates, the cost of construction of a
new power unit in Armenia will make up $5 bln. Russia and Armenia
will invest 20% each in this programme, and the lacking 60% will be
attracted from other sources.

From: A. Papazian

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