RUSSIA READY FOR INVESTNMENTS IN URANIUM PROCESSING IN ARMENIA

ARKA News Agency
Jan 21 2008
Armenia

YEREVAN, January 21. /ARKA/. Russia is ready for serious investments
in the prospecting and processing of uranium in Armenia, Co-Chairman
of the Armenian-Russian Intergovernmental Commission for Economic
Cooperation, RF Minister of Transport Igor Levitin stated at the
opening of an Armenian-Russian business forum in Yerevan.

"Russia is also ready to assist Armenia in prolonging the service life
of the currently operating nuclear-power plant and in constructing
a new nuclear-power unit in Armenia," he said.

According to him, energy remains the priority field of the bilateral
economic cooperation.

Russian companies owing a number of Armenia’s important energy
generation and supply facilities are making them profitable,
Levitin said.

He also pointed out that the sides have recently been discussing the
possibility of implementing new large-scale projects in extractive
and processing industries, which will contribute to the increase in
Russian capital investments in Armenia at least two times within the
next few years.

In January-September 2007, Russian investments in Armenia totaled
$175,905,000, with direct investments totaling $101,569,000 –
37.4% of foreign investments in the real sector and 32.6% of
direct investments. The RA Statistical Service reports that Russian
investments in Armenia increased 5.1 times, and direct investments
63.2 times compared with January-September 2006.