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Russia will provide Armenia with $270 million loan for major repair
ofnuclear power plant
YEREVAN, November 19. / ARKA /. Russia will provide Armenia with a
loan of $270 million for a major repair of the second unit of the
Armenian nuclear power plant in Metsamor, finance minister Gagik
Khachatryan said on Wednesday to a Cabinet meeting prior to
government's approval of an agreement with Russia whereby the latter
will provide Armenia with a government loan for financing the
extension of the service life of the facility.
According to the minister, the loan will be used for repair and
re-equipment of the second unit of the Armenian NPP from 2014 to 2018.
The loan is granted for a period of 10 years at a rate of 3% per annum
with the first payment scheduled for January 15, 2019.
In addition, the Armenian government approved an agreement between the
governments of Armenia and Russia on cooperation in extending the
service life of the second unit of the Armenian NPP.
In this regard, energy and natural resources minister Yervand Zakarian
said the authorized representative of the Armenian party is the
Metsamor facility; the Russian side will be represented by Rusatom
Service contractor
Earlier Russia had said it would provide a $270 million loan to
Armenia for the repair of the second unit of the Armenian NPP and a
$30 million grant.
The Metsamor plant located some 30 kilometers west of Yerevan, was
built in the 1970s but was closed following a devastating earthquake
in 1988 that killed some 25,000 people and devastated much of northern
Armenia.
One of the plant's two VVER 440-V230 light-water reactors was
reactivated in 1995. The government wants to build a new facility
that is supposed to operate at twice the capacity of the
Soviet-constructed facility. Metsamor currently generates some 40
percent of Armenia's electricity. But the government has yet to
attract funding for the project that was estimated as much as $5
billion.-0-
http://arka.am/en/news/technology/russia_will_provide_armenia_with_270_million_loan_ for_major_repair_of_nuclear_power_plant/#sthash.1G3fk1TW.dpuf
ofnuclear power plant
YEREVAN, November 19. / ARKA /. Russia will provide Armenia with a
loan of $270 million for a major repair of the second unit of the
Armenian nuclear power plant in Metsamor, finance minister Gagik
Khachatryan said on Wednesday to a Cabinet meeting prior to
government's approval of an agreement with Russia whereby the latter
will provide Armenia with a government loan for financing the
extension of the service life of the facility.
According to the minister, the loan will be used for repair and
re-equipment of the second unit of the Armenian NPP from 2014 to 2018.
The loan is granted for a period of 10 years at a rate of 3% per annum
with the first payment scheduled for January 15, 2019.
In addition, the Armenian government approved an agreement between the
governments of Armenia and Russia on cooperation in extending the
service life of the second unit of the Armenian NPP.
In this regard, energy and natural resources minister Yervand Zakarian
said the authorized representative of the Armenian party is the
Metsamor facility; the Russian side will be represented by Rusatom
Service contractor
Earlier Russia had said it would provide a $270 million loan to
Armenia for the repair of the second unit of the Armenian NPP and a
$30 million grant.
The Metsamor plant located some 30 kilometers west of Yerevan, was
built in the 1970s but was closed following a devastating earthquake
in 1988 that killed some 25,000 people and devastated much of northern
Armenia.
One of the plant's two VVER 440-V230 light-water reactors was
reactivated in 1995. The government wants to build a new facility
that is supposed to operate at twice the capacity of the
Soviet-constructed facility. Metsamor currently generates some 40
percent of Armenia's electricity. But the government has yet to
attract funding for the project that was estimated as much as $5
billion.-0-
http://arka.am/en/news/technology/russia_will_provide_armenia_with_270_million_loan_ for_major_repair_of_nuclear_power_plant/#sthash.1G3fk1TW.dpuf