YEREVAN, November 29. /ARKA/. The government of Armenia decided today to vote for the liquidation of Metsamorenergoatom company that was established for handling the construction of a new nuclear power unit for Armenian nuclear power plant (NPP), when its shareholders meet for a general meeting.
This company was established in 2009. It is a joint Russian-Armenian venture in which each sides holds 50% of shares. The founders of the company are Atomstroyexport, a subsidiary of Russian Rosatom that builds nuclear power plants abroad and the Ministry of Economy and Natural Resources Of Armenia.
However, since its inception the company did not carry out any activity. By this decision, the government ordered the Minister of Energy Infrastructures and Natural Resources to participate in the general meeting of the company’s shareholders on behalf of Armenia and vote for its liquidation.
The Armenian Nuclear Power Plant is located some 30 kilometers west of Yerevan. It was built in the 1970s but was closed following a devastating earthquake in 1988. One of its two VVER 440-V230 light-water reactors was reactivated in 1995. Armenian authorities said they would build a new nuclear power plant to replace the aging facility. The new plant was said to operate at twice the capacity of the Soviet-constructed facility. The plant currently generates some 35 percent of Armenia's electricity.
In March 2014, Armenian government decided to extend the plant’s service life up to 2026 because of delay in building a new unit. The service life extension has become possible thanks to Russia’s financial resources. The country was to provide $270 million to Armenia as a loan and $30 million as a grant. -0-