ARMENIA, IAEA SATISFIED WITH LEVEL OF COOPERATION

ARKA
Jan 29, 2009

YEREVAN, January 29. /ARKA/. Armenian President Serzh Sargsyan
and General Director of International Atomic Energy Agency (IAEA)
Mohammed Al Baradei discussed bilateral cooperation in Davos Thursday,
the Press Service of Armenian President reported.

The sides made appraisal of the current level of bilateral cooperation
in atomic energy field. They also discussed issues on construction
of a new nuclear power unit in Armenia, says the report.

IAEA Director General appreciated the steps taken by the Armenian
Government in connection with new NPP construction and expressed
readiness to provide expert support in various stages of the project
implementation.

Al Baradei expressed satisfaction with the government measures to
improve safety of the existing NPP.

Armenian President, in his turn, expressed gratitude to Al Baradei
for coordination of efforts of international donors and advisory
assistance provided.

Armenia is planning to build a new NPP unit with capacity
of approximately 1,000 megawatt costing $4bln. In 2006 Armenian
Parliament revoked the state monopoly for owning new nuclear power
units in order to attract foreign capital for the project.

The Armenian Nuclear Power Plant (NPP) was commissioned in 1976 (the
second unit – in 1980).Currently only the second unit of the plant
with output of 407.5 megawatt is operated.

In September 2003, the financial flows of Armenian20NPP were placed in
trust management of INTER RAO EES Closed Joint Stock Company owned by
"Rosatom" Russian State Corporation. According to experts, Armenian
NPP can be operated till 2016.