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Minister confirms that Russia will provide Armenia with $300 million

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  • Minister confirms that Russia will provide Armenia with $300 million

    Minister confirms that Russia will provide Armenia with $300 millionto
    extend service life of NPP

    YEREVAN, November 12. / ARKA /. Armenian energy and natural resources
    minister Yervand Zakharyan has confirmed today that Russia has pledged
    to provide $300 million assistance to Armenia, which the government
    will use to extend the service life of the Metsamor nuclear power
    plant until 2026. The minister said a relating agreement is to be
    signed later this year. He said $270 million of that amount will come
    as a loan and the rest as a grant. Armenia's Mestamor nuclear power
    plant, located some 30 kilometers west of Yerevan, 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 want to replace the aging facility by a new plant
    that is supposed to operate at twice the capacity of the
    Soviet-constructed facility, generating currently some 40 percent of
    Armenia's electricity. But the government has yet to attract funding
    for the project that was estimated by a U.S.-funded feasibility study
    to cost at as much as $5 billion. --0----

    http://arka.am/en/news/technology/minister_confirms_that_russia_will_provide_armenia _with_300_million_to_extend_service_life_of_npp/#sthash.jH28dHps.dpuf

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