MINSTER OF ENERGY AND NATURAL RESOURCES: THE COMPOSITION OF SHAREHOLDERS WILL HAVE NO EFFECT ON THE WORK OF THE NEW UNIT OF ARMENIAN NPP EVEN IF THEY ARE FROM TURKEY

ArmInfo
2009-05-20 19:45:00

ArmInfo. The composition of shareholders will have no effect on the
work of the new unit of Armenian Nuclear Power Plant be they from
Turkey or any other state, Minister of Energy and Natural resources of
Armenia Armen Movsissyan said while speaking in the parliament today.

"We set no restrictions on the purchase of the shares as ownership will
have no influence on the work of the plant. The unit will be operated
in compliance with the national legislation and the international
obligations of our country," Movsisyan said.

He said that the management of construction and the management
of investments had to be strictly delimited. Worley Parsons has
won the right to manage the construction. Turkey has no companies
having rights to manage construction projects. Just a few companies
worldwide have such a right. As regards construction contracts, they
will most probably be implemented by Armenian companies as it will
not be expedient to invite foreign contractors.

he cost of the construction of the new unit of Armenian NPP is
estimated at 2.5bln-2.7bln EUR.