Rosatom supports prolongation of Russia’s loan provided for extension of Armenian Nuclear Power Plant’s life
17.04.2019,
11:53
Rosatom, a Russian state corporation headquartered in Moscow that specializes in nuclear energy, supports the idea of prolongation of Russia’s loan provided for modernization of the Armenian Nuclear Power Plant and extension of its life, Evgeny Salkov, CEO of Rusatom Service, a subsidiary of Rosatom Corporation, which is the general contractor in the repair of the nuclear plant, told Armenian journalists on the sidelines of Armexpo-2019 Forum.
SOCHI, April 17. /ARKA/. Rosatom, a Russian state corporation headquartered in Moscow that specializes in nuclear energy, supports the idea of prolongation of Russia’s loan provided for modernization of the Armenian Nuclear Power Plant and extension of its life, Evgeny Salkov, CEO of Rusatom Service, a subsidiary of Rosatom Corporation, which is the general contractor in the repair of the nuclear plant, told Armenian journalists on the sidelines of Armexpo-2019 Forum.
In his words, the Armenian finance ministry has appealed to Russia for extension of the term set for using the loan to the end of 2021 instead of late 2019, as it was implied earlier. “The matter is being discussed now,” Salkov said. “Now a normal dialogue between our countries’ financial agencies is under way. Rosatom, on its side, supports the prolongation, since we understand very well that we need to ensure complete solution to these problems.”
Salkov confirmed that not the entire amount of the loan is already used. “However, the goal is not to use the whole loan, but the goal is to carry out the whole volume of work, which will allow operating the Armenian Nuclear Power Plant safely till 2028,” he said.
Movses Vardanyan, CEO of the Armenian Nuclear Power Plant, said earlier that contracts totaling $184-million have been signed of the $270 million provided as loan and $30 million as grant.
Salkov also spoke on the necessity of prolongation of the terms of the loan contract stressing that there are no problems. “The amount decided at the initial stage of the project was intended for one calendar year, but new objectives have appeared in the process, more detailed plans have been worked out, which have shown that we are overstepping the year 2019,” he said.
In his words, the work is under way now and everything will be done. “The allocated financial resources are enough for fulfilling the objectives for which the Russian side is responsible,” Salkov said. “The remaining things will be done by the Armenian side at its own account and also with the assistance of the European Union, American partners in the implementation of the projects aimed at enhancement of the nuclear plant’s security.”
Salkov added that the Armenian Nuclear Power Plant is one of the most effective consumers of fuel, and this allows saving financial resources and spend them on enhancement of security.
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. 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 provided $270 million to Armenia as a loan and $30 million as a grant. --0--
In his words, the Armenian finance ministry has appealed to Russia for extension of the term set for using the loan to the end of 2021 instead of late 2019, as it was implied earlier. “The matter is being discussed now,” Salkov said. “Now a normal dialogue between our countries’ financial agencies is under way. Rosatom, on its side, supports the prolongation, since we understand very well that we need to ensure complete solution to these problems.”
Salkov confirmed that not the entire amount of the loan is already used. “However, the goal is not to use the whole loan, but the goal is to carry out the whole volume of work, which will allow operating the Armenian Nuclear Power Plant safely till 2028,” he said.
Movses Vardanyan, CEO of the Armenian Nuclear Power Plant, said earlier that contracts totaling $184-million have been signed of the $270 million provided as loan and $30 million as grant.
Salkov also spoke on the necessity of prolongation of the terms of the loan contract stressing that there are no problems. “The amount decided at the initial stage of the project was intended for one calendar year, but new objectives have appeared in the process, more detailed plans have been worked out, which have shown that we are overstepping the year 2019,” he said.
In his words, the work is under way now and everything will be done. “The allocated financial resources are enough for fulfilling the objectives for which the Russian side is responsible,” Salkov said. “The remaining things will be done by the Armenian side at its own account and also with the assistance of the European Union, American partners in the implementation of the projects aimed at enhancement of the nuclear plant’s security.”
Salkov added that the Armenian Nuclear Power Plant is one of the most effective consumers of fuel, and this allows saving financial resources and spend them on enhancement of security.
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. 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 provided $270 million to Armenia as a loan and $30 million as a grant. --0--
