PRIME MINISTERS OF RUSSIA AND ARMENIA DISCUSS PROSPECTS OF COOPERATION IN THE FIELD OF USE OF NUCLEAR ENERGY

SKRIN Market & Corporate News
February 6, 2008 Wednesday 4:57 PM GMT

During a meeting in Yerevan today, Prime Minister of Russia Viktor
Zubkov and Prime Minister of Armenia Serzh Sargsyan discussed a wide
range of problems concerning bilateral cooperation in the field of
use of nuclear energy.

The prime ministers confirmed their commitment to further enhance
the safety and efficiency of the 2nd unit of Armenian Nuclear Power
Plant on the basis of the international and Russian experience and
to consider ways to develop nuclear power capacities in Armenia.

"The Government of Armenia is going to announce a tender for the
construction of new nuclear power plant. We are going to take part
in it and we have quite good chances to win," the director general
of Rosatom State Nuclear Energy Corporation Sergey Kiriyenko told
journalists after the meeting.

The sides also exchanged notes confirming Armenia’s joining the
International Uranium Enrichment Center, established by Russia and
Kazakhstan in May 2007.

The Ministry of Ecology of Armenia and Rosatom State Nuclear
Energy Corporation signed a memorandum on the establishment of a
Russian-Armenian joint venture for prospecting uranium and other
mineral resources in Armenia. Russia and Armenia have equal (50/50)
shares in the company’s authorized capital. The company will start
its activities as soon as the project is approved by the state
environmental inspection – in Sept 2008.

Kiriyenko said that the JV would have access to all Russia-based
archives on uranium reserves in Armenia. Russia is ready to finance
additional prospecting and industrial development of uranium in
Armenia.

Thus, Russia and Armenia are starting projects in all segments of
the peaceful use of nuclear energy, Rosatom official Web site reported.