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Armenian-Russian JV to be set up to build energy unit for NPP

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  • Armenian-Russian JV to be set up to build energy unit for NPP

    Interfax, Russia
    Dec 3 2009


    Armenian-Russian JV to be set up to build energy unit for NPP

    YEREVAN Dec 3


    The government of Armenia on Thursday approved the decision to set up
    an Armenian-Russian joint venture, on a parity basis, to build a new
    power-generating unit for the Armenian nuclear power plant.

    The joint venture's charter capital is 60 million dram (about
    $156,000), said Armenian Energy and Natural Resources Minister Armen
    Movsisian.

    The Armenian energy and natural resources ministry will contribute 30
    million dram to the project from the proceeds of the ministry's
    generating companies. Russia is represented by Atomstroyexport,

    The government also approved an appraisal by the Worley Parsons
    management company, which suggests that the projected Armenian power
    generating unit will have a Russian-made 1060 megawatt reactor.

    The reactor's service life is 60 years. It has a European safety certificate.

    The Armenian government signed a $459.7 million contract in 2008 with
    the Worley Parsons consortium, the managing company of the project.

    Construction will begin in 2012 and the power-generating unit is to be
    commissioned before 2017. The currently operating power generating
    unit is to be shut down by this time.

    The dram is tied to the dollar at 385.6/$1.
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