05/07/2014 16:27
Russia to give $300 million to extend Armenian nuclear plant service life
On early September, the Armenian Nuclear Power Plant (ANPP) will be shut down for 45 days for planned repairs, Armenian Minister of Energy and Natural Resources Yervand Zakharyan said, according to the ministry’s press service.
The minister yesterday visited the ANPP where a meeting on annual reports of shareholders took place. Zakharyan said Armenia and Russia will sign an agreement, under which Armenia will receive a $300 million loan from Russia with the aim of extending the service life of ANPP.
The negotiations are in the final stage, the matter concerns a long-term loan at a low interest rate, the minister said.
According to him, the construction of a new nuclear plant will cost $4.5 billion. The project is expected to start in 2018-2019.