"Inter RAO" To Sign A New Contract For Operation Of Armenian Nuclear

“INTER RAO” TO SIGN A NEW CONTRACT FOR OPERATION OF ARMENIAN NUCLEAR POWER PLANT BY THE END OF SUMMER

/ARKA/
JUNE 24, 2011
YEREVAN

“Inter RAO EEC” plans to sign a new contract for operation of Armenian
nuclear power plant by the end of summer”, said the Head of the
company Boris Kovalchuk, informs RIA Novosti.

The Russian side will specify a number of legal details in the
contract. He didn’t clarify in what details “Inter RAO” is interested
in.

The only nuclear power station in the region operates in Armenia
which processes about 40-50% of electricity in the country. Duration
of project service of Armenian nuclear power plant is till 2016.

Authorities of Armenia are planning to build a new station in the
place of the existing station which will have the capacity of 1
megawatt . The cost of the project might be about 5 billion drams.

At present, Armenian nuclear power plant is under financial management
of Russian company “Inter RAO”. Both countries will participate in
the construction of the new energy block. The parties have signed a
relevant intergovernmental agreement on August 20, 2010.

Construction works are planned to start in 2011. The new block will
put into operation by 2017. During this period the current energy
block should be closed. However, on February 15 the Armenian Minister
of Energy and Natural Resources Armen Movsisyan announced that the
current energy block of Armenian nuclear power plant will operate
till the operation of the new one.

In June, Atomstroyexport cjsc signed confidentiality agreement on
the construction project of new Armenian nuclear power plant. After
signing the agreement, the parties can exchange important information
and documentation. Before signing the agreement, Armenian Ministry
of Energy and Natural Resources and Atomstroyexport were exchanging
only available information.

From: Emil Lazarian | Ararat NewsPress