PSRC to consider Metsamor nuclear power plant's 2016 investment program
23.02.2016,
18:47
Armenia's Public Services Regulatory Commission (PSRC) will convene February 24 to consider a draft investment program of the Armenian Nuclear Power Plant cjsc for 2016 worth a total of 1.5 billion drams (excluding VAT).
YEREVAN, February 23. /ARKA/. Armenia's Public Services Regulatory Commission (PSRC) will convene February 24 to consider a draft investment program of the Armenian Nuclear Power Plant cjsc for 2016 worth a total of 1.5 billion drams (excluding VAT).
According to a draft decision, posted on the PSRC's website, some 428.3 million drams will be spent on the replacement of outdated equipment of the turbine shop of the plant and another 400 million drams are to be used on the modernization of the reactor section.
The NPP will also spend about 233.3 million drams on the replacement of outdated equipment and the purchase of new for radiation protection, and 196 million drams are earmarked for the modernization of the plant's seismic protection.
The Metsamor plant located some 30 kilometers west of Yerevan, was built in the 1970s but was closed following a devastating earthquake in 1988 that killed some 25,000 people and devastated much of northern Armenia. One of the plant’s two VVER 440-V230 light-water reactors was reactivated in 1995.
The government wants to build a new facility that is supposed to operate at twice the capacity of the Soviet-constructed facility. Metsamor currently generates some 40 percent of Armenia's electricity. But the government has yet to attract funding for the project that was estimated as much as $5 billion.
Under two Russian-Armenian agreements, signed last year Russia will provide Armenia with a credit of $270 million and a $30 million grant to extend the service life of Metsamor plant until 2027. The funds will be provided for 15 years with a 5-year grace period and an interest rate of 3% per annum. The agreements envisage that the loan may be provided in Russian rubles. Earlier, in late 2014 the sides signed an agreement on the extension of nuclear power plant operation until 2027. ($1 – 493.38 drams).-0-
According to a draft decision, posted on the PSRC's website, some 428.3 million drams will be spent on the replacement of outdated equipment of the turbine shop of the plant and another 400 million drams are to be used on the modernization of the reactor section.
The NPP will also spend about 233.3 million drams on the replacement of outdated equipment and the purchase of new for radiation protection, and 196 million drams are earmarked for the modernization of the plant's seismic protection.
The Metsamor plant located some 30 kilometers west of Yerevan, was built in the 1970s but was closed following a devastating earthquake in 1988 that killed some 25,000 people and devastated much of northern Armenia. One of the plant’s two VVER 440-V230 light-water reactors was reactivated in 1995.
The government wants to build a new facility that is supposed to operate at twice the capacity of the Soviet-constructed facility. Metsamor currently generates some 40 percent of Armenia's electricity. But the government has yet to attract funding for the project that was estimated as much as $5 billion.
Under two Russian-Armenian agreements, signed last year Russia will provide Armenia with a credit of $270 million and a $30 million grant to extend the service life of Metsamor plant until 2027. The funds will be provided for 15 years with a 5-year grace period and an interest rate of 3% per annum. The agreements envisage that the loan may be provided in Russian rubles. Earlier, in late 2014 the sides signed an agreement on the extension of nuclear power plant operation until 2027. ($1 – 493.38 drams).-0-
