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Development Of Uranium Deposits New Russian Project In Armenia This

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  • Development Of Uranium Deposits New Russian Project In Armenia This

    DEVELOPMENT OF URANIUM DEPOSITS NEW RUSSIAN PROJECT IN ARMENIA THIS YEAR

    ARKA
    Feb 5, 2009

    YEREVAN, February 5. /ARKA/. The development of uranium deposits
    will be a new Russian project in Armenia this year, RF Ambassador to
    Armenia Nikolay Pavlov told a press conference at the international
    press center Novosti.

    The Armenian-Russian Mining Company established last September is
    developing uranium deposits in Armenia. The issues of financing
    the company have been settled, and the field work is under way. The
    company plans to invest about $3mln in the Armenian economy.

    RF Trade Representative in Armenia Alexander Zaitsev pointed out that,
    amid the global economic financial crisis, the major task for Russia
    is to support the previously launched projects.

    "Among them is the long-term projects of construction of a second
    nuclear power plant, modernization of railways, as well as all the
    projects Armenia is actively developing with Russia's assistance,"
    Zaitsev said.

    Armenia plans the construction of a new nuclear power plant with a
    capacity of 1,000 MW. The RA Ministry of Energy estimates the project
    at $5bln. In 2006 the Armenian Parliament abolished the government
    monopoly of nuclear power plants to facilitate the attraction of
    foreign capital.

    The South-Caucasian Railway CJSC, fully owned by the Russian Railways
    OJSC, is concessionaire of the Armenian Railways. Under a concession
    agreement signed on February 13, 2008, the South-Caucasian Railway
    CJSC, registered the rolling stock of the Armenian Railways in its
    fixed assets on June 1, 2008. The 30-year concession agreement can
    be prolonged for another 20 years.
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