Russia to provide $300mln loan to Armenia for extending NPP lifetime
YEREVAN, July 7. /ARKA/. Armenia and Russia will sign an agreement on a loan worth $300 million to Yerevan for extension of the lifetime of the Armenian Nuclear Power Plant, Armenian minister of energy and natural resources Yervand Zakharyan said Friday.
It will be a long-term loan at a low interest rate, Zakharyan said adding the negotiations will be completed soon.
The minister also said the nuclear power plant has financial liabilities worth a total of about 9-9.5 billion drams (about 22-23.3 million dollars) that arose from loan management.
The management should be more efficient in the next years, he said.
At its sitting of March 27, 2014, Armenia’s government made a decision to extend the lifetime of the Armenian NPP second unit to 2026, due to delays in the construction of the new unit.
Armenian NPP is located in Metsamor, some 30 kilometers south of Yerevan. It was commissioned in 1976, but was closed following a devastating earthquake in 1988. One of its two VVER 440 reactors was reactivated in 1995 due to acute power crisis in Armenia. Today only the second reactor with capacity of 407.5megawatt is in operation. –0--