RUSSIA WANTS TO BUILD NEW NPP FOR ARMENIA – INTER RAO UES

Interfax News Agency
April 9 2008
Russia

Russia is ready to build a new nuclear power plant in Armenia, INTER
RAO UES board of directors chairman Andrei Rappoport told journalists
in Yerevan on Wednesday.

Rosenergoatom currently holds a 40% stake in INTER RAO UES. After
the Unified Energy System of Russia (UES) (RTS: EESR) is finally
reorganized, INTER RAO’s controlling interest will be held by Rosatom
corporation. "Given this, we will not only run the nuclear power
plant currently in operation in Armenia, but also build a new one. We
will definitely do this and are ready to act as an investor and an
engineer," he said.

Asked by reporters about the possibility of extending the management
of the Armenian nuclear power plant by INTER RAO UES, Rappoport said
no talks had been conducted with the Armenian government on this issue,
but talks could begin in a couple of months.

The five years of Armenian nuclear power plant management were
successful, but the management company did not earn anything for that,
he said. "We have mixed feelings. We did the management for five
years and see this as a major contribution to the station’s work,
but we have not earned a single kopeck," he said.

Earlier reports said that the construction of a new power-generating
unit of the Armenian nuclear power plant is to begin in 2010 and is to
last for five years. France’s Framatome showed interests in building
the nuclear power plant, too. The power-generating unit to be built
will tentatively have a capacity of 1,000 megawatts. It is estimated
at 1 billion euro.

In September 2003 the Armenian nuclear power plant was transferred
to INTER RAO UES for financial management for five years.