Yerevan Hails Russia’s Participation in NPP Construction In Armenia

YEREVAN, August 24. /ARKA/. Yerevan will be glad if Russia’s financial participation in the construction of a new nuclear power plant in Armenia exceeds 20%, Armenian Deputy Foreign Minister Shavarsh Kocharyan said.

He told journalists that the construction is estimated to cost $5 billion.

“About 20% ($1 billion) of the expenses will be borne by Russia, another 20% by Armenia, and the remaining amount are planned to be attracted from investors,” he said. “Some analysts say that everything is allegedly given to Russia, though its participation stands at 20%. But if participation was greater, we would only welcome it.”

The deputy minister advised those criticizing the project to remember the energy problems Armenia faced in the beginning of 1990s.

“Few could imagine then that Armenia would develop into an energy-exporting country,” he said. “However, we have not only reached this goal, but are also strengthening our positions without possessing natural energy resources.”

Sergey Kiriyenko, head of Russian Rosatom, told journalists last week that Russia can finance more than 20% of the construction.

Armenian government is searching for investors now.

Armenian Nuclear Power Plant sits near Metsamor (20 or 30 kilometers south of Yerevan).
The plant started functioning in 1976, and now only the second, 407.5-megawatt unit operates.
INTER RAO UES belonging to Russian state-owned Rosatom runs the plant’s funds from 2003 and will run them until 2013. Specialists say the plant can operate until 2016.

Armenia plans to build a new 1000-megawatt unit. The construction is estimated to cost $5 billion.

In 2006, Armenian National Assembly abolished the government’s right for sole ownership of new nuclear units in an effort to attract foreign capital for the project implementation..-0---

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16:01 08/25/2010