ARG has invested $376 million in fifth unit of Hrazdan power plant

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Economy

05.11.2009, 15:28

Armenia’s national gas operator ArmRosGazprom (ARG) said in a statement it has invested a total of $376 million in the fifth unit of Hrazdan thermal power in 2006-2009, including $248.8 million paid for the Hrazdan facility, of which almost $189 million i

YEREVAN, November 4, /ARKA/. Armenia’s national gas operator ArmRosGazprom (ARG) said in a statement it has invested a total of $376 million in the fifth unit of Hrazdan thermal power in 2006-2009, including $248.8 million paid for the Hrazdan facility, of which almost $189 million in natural gas supplies to Armenia.

According to the statement, the fifth unit of the power plant will come online in 2010 July. ‘As a result Armenia will have effective and competitive 400 megawatt power generating capacities.’

The statement said the company has brought state-of-the-art equipment to assemble the steam generating unit of the fifth unit that will make the project unique not in the region but also in the word.

The Hrazdan power plant will be working on Iranian gas and will sell part of electricity to Iran as payment for gas.

ARG’ statement said the company has received a 4,000 kilowatt-ampere transformer and besides a block transformer, two German-made water boilers, as well as Alstom-made equipment for the gas turbine are going through the customs clearance and will arrive at the site soon.

Anatoliy Podmyshalsky, deputy chairman of ARG and head of a Gazprom department in charge of former Soviet republics, was quoted as saying that everything is being done to have the fifth unit come online in 2010 summer.

ARG was founded in 1997. The Russian Gazprom owns 80% in it, the rest is held by the Armenian government. M.M. -0

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