Armrosgazprom licensed to construct hrazdan-5 power plant in Armenia

YEREVAN, June 17. /ARKA/. The RA Public Services Regulatory Commission licensed the ArmRosgazprom CJSC to construct the Hrazdan-5 electric power plant in Hrazdan, Kotayk region, Armenia.

Head of the Commission’s Legal Affairs and Licensing Department Hamayak Amragyan reported that the license will be effective until December 31, 2011.

“The designed capacity of the power plant is 445MW,” Amiragyan said. He stressed that the Commission pledged not to license any other legal entity for energy-generating activities in Hrazdan “if this activity should affect the performance of the power plant.”

Amiragyan also said that Armrosgazprom pledged to submit the project and investment scheme to the Commission.

In 2006, the RA Government and the Gazprom OJSC signed an agreement under which ArmRosgazprom was to purchase the assets of the Hrazdan heat and power plant for US $248.8mln to complete its construction and modernization.

Besides, ArmRosgazprom plans to invest US $150-170mln in the power plant.

After the power plant has been put into operation, ArmRosgazprom will have a considerable share on the Armenia energy market and be able to increase energy supplies to the neighboring countries.

The Hrazdan-5 program is immediately linked with the Iran-Armenia gas main. Under the agreement, the electric power generated by the Hrazdan-5 plant will be transmitted to Iran’s energy system as a means of paying for the Iranian gas supplied to Armenia.

The ArmRosgazprom CJSC distributes Russian natural gas in Armenia. The country receives gas through Georgia.

The company was founded in 1997, with Gasprom holding 80% of its stock, and the RA Government 20%.--0--