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Armenia Plans To Build NPP Due To Extrabudgetary Funds

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  • Armenia Plans To Build NPP Due To Extrabudgetary Funds

    ARMENIA PLANS TO BUILD NPP DUE TO EXTRABUDGETARY FUNDS

    ArmInfo
    2010-10-06 13:45:00

    ArmInfo. No funds are envisaged in the budget 2011 for construction
    of a new nuclear power unit at the Armenian NPP, Finance Minister of
    Armenia Tigran Davtyan said at a press-conference, Wednesday.

    According to him, it is scheduled that construction of the power
    unit will be carried out due to extrabudgetary funds, in particular,
    due to banks or investment companies.

    "We have no legal basis to allocate budgetary funds, since no
    agreement has yet been signed on construction of a power unit. The
    same refers to the project of construction of Iran-Armenia railway",
    the minister said.

    T. Davtyan added that the government of Armenia switches from an
    extensive policy to a restrictive one beginning with 2011, and 'it
    will be more restrained in attraction of additional loans'.

    To recall, at late 2009, the government of Armenia approved signing of
    an agreement with Russia on construction of a new nuclear power unit
    with capacity of 1060 MWt in its territory, with 60 years of lifetime.

    According to preliminary estimates, the cost of construction of a
    new power unit in Armenia will make up $5 bln. Russia and Armenia
    will invest 20% each in this programme, and the lacking 60% will be
    attracted from other sources.




    From: A. Papazian
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