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Russia And Armenia Sign Agreement On Reserving Equipment For Armenia

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  • Russia And Armenia Sign Agreement On Reserving Equipment For Armenia

    RUSSIA AND ARMENIA SIGN AGREEMENT ON RESERVING EQUIPMENT FOR ARMENIAN NUCLEAR POWER PLANT'S NEW REACTOR

    ARKA
    Apr 6, 2010

    YEREVAN, April 6, /ARKA/. Russian state nuclear energy agency Rosatom
    and Armenia's ministry of energy and natural resources signed an
    agreement late last month on reserving equipment for a Russian AES-92
    pressurized light-water reactor that will be installed at the new
    reactor of the Armenian nuclear power plant, Russian RIA Novosti news
    agency reported. The agreement was signed March 26 by Rosatom chief
    Sergey Kiriyenko and Armenian energy and natural resources minister
    Armen Movsisyan. It came as a follow-up to an agreement reached by
    the sides last October 23, RIA Novosti said.

    Last year the Armenian government approved a decision on establishment
    of a joint Armenian-Russian company to deal with construction of a new
    unit for Armenian nuclear power plant. Construction of a new nuclear
    power unit will be managed by the Australian Worley Parsons engineering
    company that won a tender announced by the Armenian government.

    Armenia wants to replace the aging Metsamor plant by 2017. With
    a projected capacity of 1,060 megawatts, the new facility would be
    more than twice as powerful as Metsamor's sole operating reactor that
    generates more than 40% of Armenia's electricity and will serve for
    60 years and secure European safety level.

    The Armenian government has yet to attract funding for the project
    which is estimated to cost as much as $5 billion. In an attempt to
    attract foreign investors Armenian parliament revoked a state monopoly
    on ownership of nuclear power facilities. Construction is expected to
    start in 2011. Under a 2003 agreement Armenian nuclear power plant's
    financial flows are managed by Russian Inter RAO UES, owned by Russian
    state-run Rosatom corporation. The agreement expires in 2013.
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