Fifth unit of Hrazdan power plant to come online in 2010 summer
YEREVAN, October 20, /ARKA/. Karen Karapetian, the chief executive director of the Russian-Armenian joint venture ArmRosGazProm (ARG), said today the fifth unit of Hrazdan heat power station will come online in 2010 July.
In 2006 Russian Gazprom and the Armenian government signed a deal whereby the ARG , in which the Russian Gazprom has 80%, acquired the fifth unit of the Hrazdan thermal power plant, committing to accomplish its construction and modernization.According to Karen Karapetian, the ARG plans to invest from $140 to up $170 million in the fifth unit.
“It is a unique power generating plant. Next to an unfinished unit with a 300 megawatt capacity, built by already outdated tehcnology, a new unit with a 180 megawatt capacity is being erected which will operate in parallel,” Karen Karapetian said, adding that some 75% of the work has been done.
The company has received a $40 million loan from the Armenian government not to fall behind the schedule and will repay it in 2-3 months, Karen Karapetian said.
A total of $376 million will have been invested into the Hrazdan power plant, including $248.8 million that Russian Gazprom paid for the Hrazdan facility, of which almost $189 million in natural gas supplies to Armenia.
The Hrazdan power plant will be working on Iranian gas and will sell part of electricity to Iran as payment for gas. ARG is the sole gas supplier to Armenia. Russian Gazprom owns 80% in it, the rest is held by the Armenian government. ($1 – 386.57 Drams). -0-
