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Russia wants to build new NPP for Armenia - INTER RAO UES

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  • Russia wants to build new NPP for Armenia - INTER RAO UES

    RUSSIA WANTS TO BUILD NEW NPP FOR ARMENIA - INTER RAO UES

    Interfax News Agency
    April 9 2008
    Russia

    Russia is ready to build a new nuclear power plant in Armenia, INTER
    RAO UES board of directors chairman Andrei Rappoport told journalists
    in Yerevan on Wednesday.

    Rosenergoatom currently holds a 40% stake in INTER RAO UES. After
    the Unified Energy System of Russia (UES) (RTS: EESR) is finally
    reorganized, INTER RAO's controlling interest will be held by Rosatom
    corporation. "Given this, we will not only run the nuclear power
    plant currently in operation in Armenia, but also build a new one. We
    will definitely do this and are ready to act as an investor and an
    engineer," he said.

    Asked by reporters about the possibility of extending the management
    of the Armenian nuclear power plant by INTER RAO UES, Rappoport said
    no talks had been conducted with the Armenian government on this issue,
    but talks could begin in a couple of months.

    The five years of Armenian nuclear power plant management were
    successful, but the management company did not earn anything for that,
    he said. "We have mixed feelings. We did the management for five
    years and see this as a major contribution to the station's work,
    but we have not earned a single kopeck," he said.

    Earlier reports said that the construction of a new power-generating
    unit of the Armenian nuclear power plant is to begin in 2010 and is to
    last for five years. France's Framatome showed interests in building
    the nuclear power plant, too. The power-generating unit to be built
    will tentatively have a capacity of 1,000 megawatts. It is estimated
    at 1 billion euro.

    In September 2003 the Armenian nuclear power plant was transferred
    to INTER RAO UES for financial management for five years.
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