Minister: Inter RAO UES to terminate financial management of Armenian NPP from January 1
23.12.2011,
06:33
Russian state energy holding “INTER RAO UES” will terminate from January 1, 2012 management of financial flows of Armenian nuclear power plant (NPP), said Armenian Energy and Natural Resource Minister Armen Movsisyan.
YEREVAN. December 23. /ARKA/. Russian state energy holding “INTER RAO UES” will terminate from January 1, 2012 management of financial flows of Armenian nuclear power plant (NPP), said Armenian Energy and Natural Resource Minister Armen Movsisyan, news agency “Novosti-Armenia” informs.
According to the data of Russian mass media, the company "INTER RAO UES” decided to terminate the action of the agreement on financial management of Armenian NPP, as it was dissatisfied with the terms of management and that nuclear power is a “non-profile activity with abruptly increasing risks” for the holding.
“We do not see any problems in it. We think about the development of new management mechanisms”, said Movsisyan in the press-conference on Thursday answering the questions of the journalists in the agency “Novosti-Armenia”.
He said that management of financial flows was transferred to “INTER RAO” in 2003 when Armenian NPP had large debts amounting 40-50 million dollars to Russian suppliers of nuclear fuel (corporation TVEL).
At that time, as a guarantee a scheme was developed in accordance with which “INTER RAO UES” received financial flows in management of Armenian NPP “for Russian suppliers to be confident that they will get their sums”.
He said that today there does not exist such a problem as it is already the third year that the payments to the suppliers are made in automated regime, no product in credit for NPP is not delivered and the authorities do not have to extend the task of managing financial flows.
“It was the reason that the company “INTER RAO UES” which has nothing else to do in the frames of this cooperation, refused its role of manager”, said Movsisyan.
Armenian Nuclear Power Plant is located near the city Metsamor (about 20-30 km to the South from Yerevan). The station is operating since 1976 and currently only second block of the station with the capacity of 407.5 MVt is functioning.
Financial flows of Armenian Nuclear Power Station are under the trust management of Open JSC “INTER RAO EEC” since September 2003 up to 2013 the owner of which is Russian state corporation “Rosatom”. By the assessment of the specialists, Armenian Nuclear Power Plant can function till 2016.--0—
