TECHNICAL PROPOSAL FOR INVESTMENTS IN NUCLEAR POWER UNIT IN ARMENIA TO BE APPROVED BY NOV

ARKA
September 17 2007

A technical proposal justifying the investments in the construction
of a new nuclear-power unit in Armenia is to be approved by November
2007. A relevant instruction was issued to the Armenian side of
the Armenian-Russian task group for nuclear cooperation at the 9th
meeting of the Armenian-Russian Intergovernmental Commission for
Economic Cooperation.

The Press and Public Relations Department, RA Government, reports that
the task group pledged to discuss the issue with Russian organizations.

Proceeding from the necessity for investments in the construction
of a new nuclear-power unit, the sides were instructed to study
possible financing schemes for the project, including governmental
financial support.

The Commission member stressed successful development of cooperation
in electric and nuclear energy sectors.

Pointing out the priority importance of resuming simultaneous
operation of Armenia’s energy grid with that of the other members of
the Commonwealth of Independent States (CIS), the Commission instructed
the organizations concerned to get a relevant project elaborated by
the task group of the CIS Energy Council.

RA Minister of Energy Armen Movsisyan stated earlier that the
construction of new nuclear-power plant in Armenia is estimated at
$2bln. The new NPP is expected to be constructed in 4 or 5 years.

From: Emil Lazarian | Ararat NewsPress