Construction of Armenia’s new power unit may cost $7.2 bln

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Economy

25.09.2008, 01:42

Construction of the Armenian nuclear power plant’s (NPP) new unit may cost $7.2bln, said Armen Arzumanyan, representative of the PA Consulting Group.

YEREVAN, September 24. /ARKA/. Construction of the Armenian nuclear power plant’s (NPP) new unit may cost $7.2bln, said Armen Arzumanyan, representative of the PA Consulting Group.

“Making a feasibility study of the project, the company considered government, private and mixed financing, concluding that government financing is the cheapest one,” Arzumanyan added.

Electricity prices set by the new NPP will reach 12.7 cents per kWh, depending on investments.

“The new NPP will operate in 2017,” Arzumanyan said. Specialists say, the Armenian NPP in Metsamor can operate till 2016.

NPP started to operate in 1976. Only the second power unit of the plant with a Russian nuclear reactor works. The unit covers about 50% of Armenia’s energy demand.

By 2008, the Armenia NPP will be under the trust management of the INTER RAO UES CJSC, subsidiary of RAO UES Russia owned by Russia’s atomic agency Rosatom. –0--

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