Panorama.am
16:46 06/12/2007
10 PERCENT OF GDP NEEDED FOR SHUT DOWN OF NUCLEAR POWER PLANT BY 2015
The shut down of Metsamor nuclear power plant will have a long-term
effect on the Armenian economy, AEPLAC Armenian director Tigran
Jrbashyan told reporters today while presenting Moody’s Investor
Service international rating agency assessment. The agency has come to
the conclusion that the shut down of the nuclear power plant will
require a lot of funds from the state budget. According to Moody, 10
percent of GDP will be needed to cover the expenses by the year 2015.
The Armenian nuclear power plant was put into commission in January,
1976 and it was shut down in 1989. The second block of the plant
reoperated in 1995 due to energy crisis. Experts say the station may
work until the year 1016. Initial estimates say $280 million is needed
to shut down the plant and another $2 billion must be invested for the
construction of a new plant.
Source: Panorama.am