Armenian, Russian premiers agree on $300mln loan for Armenian nuclear power plant repair

Armenian, Russian premiers agree on $300mln loan for Armenian nuclear power plant repair

YEREVAN, May 31. /ARKA/. Armenia’s premier Hovik Abrahamyan told reporters Friday he had agreed with his Russian counterpart Dmitry Medvedev about a $300 million loan for repair of the Armenian Nuclear Power Plant.

Apart from discussion of issues related to the Customs Union and the Eurasian Economic Union, a number of agreements were reached with Medvedev, Abrahamyan said.

‘Russia is helping so that we are able to join the Eurasian Economic Union very quickly”, Armenian premier said. There are no major disagreements, he said.

An agreement was made about cooperation in armaments, Abrahamyan said as quoted by the government press office. Arrangement of further mutual visits was also discussed.

“I have to say I had the chance of communicating with Mr Medvedev when we both were premiers. I am confident our relationship will help the two governments work efficiently”, Abrahamyan said.

At its meeting of March 27, 2014 Armenian government made a decision to extend the life term of the Armenian NPP second unit due to delayed construction of the new one. The minister of finance was then instructed to take measures for signing an intergovernmental agreement with Russia about loan funds required for the extension.

Armenian authorities intend to build a new nuclear power plant in lieu of the current one. According to Russia’s Gosatomnadzor, the cost of the construction will be about $5 billion. In February 2013 Armenia’s minister of energy Armen Movsisyan said the new nuclear power unit is planned to be built in 2019-2020.

The Armenian Metsamor 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. –0--

11:34 31.05.2014

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