ARMENIAN-RUSSIAN COMMISSION EXAMINES PROSPECTS FOR BUILDING NEW NUCLEAR POWER PLANT

ARMENPRESS
May 30 2007

YEREVAN, MAY 30, ARMENPRESS: Head of the Russian Unified Energy Systems
(RAO UES) Anatoly Chubais said in Yerevan on Tuesday that the planned
reorganization of the Russian company will not affect the operation
of companies which it owns in Armenia.

Chubais was in Armenia to chair a regular meeting of chiefs of power
grids from former Soviet republics.

Speaking to local journalists, he said the Russian company observers
its investment commitments with regard to all its Armenia-based
companies.

RAO UES owns the Armenian Electrical Networks (AEN), the Sevan-Hrazdan
chain of hydro power plants and also handles the financial management
of the Armenian nuclear power plant in Metzamor. Another Russian
company, Gazprom, owns the fifth unit of the Hrazdan thermal power
plant in central Armenia.

Armenian deputy energy minister Areg Galstian said a joint
Russian-Armenian commission was set up to make a study what
technologies and resources could be utilized to build a new nuclear
power plant in Armenia.

"In terms of a long-run strategy and form the macroeconomic perspective
the best option for us is to replace the operating nuclear power
plant with a new one," he said.

Armenia has pledged to close its Soviet-era built nuclear power plant
in 2016.

From: Emil Lazarian | Ararat NewsPress