PRESIDENT SARGSYAN ATTENDS OPENING OF RECONSTRUCTED YEREVAN THERMAL POWER PLANT

/ARKA/
April 22, 2010
YEREVAN

Armenian president Serzh Sargsyan attended today the opening of
reconstructed Yerevan Thermal Power plant, furnished with a new
gas-steam combined cycled turbine.

Speaking to journalists on the site, energy minister Armen Movsisyan
said the new power unit will help raise the reliability of Armenia’s
power grid, optimize energy flows and cut energy losses at energy
distribution stations.

"It is a modern plant with a 272 MW installed capacity to generate
electric power at twice-reduced consumption of gas’ the minister said.

"The modern European technologies will enable to half the consumption
of natural gas which is crucial after the price of natural gas was
raised," the minister said.

According to the minister, the plant is unique in the region, both in
terms of its quality and application of high technology and technical
capabilities.

The construction of the new power unit began on July 30 2008 on a
$247 million loan provided by the Japanese Bank of International
Cooperation (JBIC). The entire process from design to material and
equipment procurement to engineering and installation was handled by
Korean GS Engineering & Construction firm that won a US$218 million
project from Yerevan Thermal Power Plant.

The minister said all of this will allow to keep electrical power
prices on the current level this year, although Russia raised the
price of gas it supplies to Armenia form April. The minister said
the new plant is an ecologically friendly facility. The power to be
generated by the plant will be used by domestic consumers and the
surplus will be exported.

The Yerevan Thermal Power Plant was built in 1963-64. Its designed
capacity was 550 megawatt.

Before the reconstruction only one of its seven units with a 50
megawatt capacity operated.