Former head of Armenian Nuclear Power Plant given about six-year conditional sentence for embezzlement
14.11.2016,
12:38
Gagik Markosyan, former head of the Armenian Nuclear Power Plant is sentenced to five years and nine months for pocketing AMD 783 million, according to datalex.am judicial information website.
YEREVAN, November 14. /ARKA/. Gagik Markosyan, former head of the Armenian Nuclear Power Plant is sentenced to five years and nine months for pocketing AMD 783 million, according to datalex.am judicial information website.
The Armavir Court has decided to apply conditional sentence with a three-year probation period.
The court has also sentenced Rubik Movsisyan, commercial director of the plant, to four years and one month, and Edik Ghazaryan, chief of the divisions in charge of preparations for repair and procurements, to four years and nine months.
The count set a three-year probation period also for them.
All the convicts have been released on parole.
The Armenian Nuclear Power Plant is located some 30 kilometers west of Yerevan. It was built in the 1970s but was closed following a devastating earthquake in 1988. One of its two VVER 440-V230 light-water reactors was reactivated in 1995. Armenian authorities said they will build a new nuclear power plant to replace the aging facility.
The new plant is supposed to operate at twice the capacity of the Soviet-constructed facility. The plant currently generates some 35 percent of Armenia's electricity.
In March 2014, Armenian government decided to extend the plant’s service life because of delay in building a new unit. The service life extension has become possible thanks to Russia’s financial resources. The country will provide $270 million to Armenia as loan and $30 million in grants. --0---
