Armenian Nuclear Power Plant to suspend operations for 45 days

Armenian Nuclear Power Plant to suspend operations for 45 days

PanARMENIAN.Net - In early September, the Armenian Nuclear Power Plant (NPP) will be shut down for 45 days for planned repairs, Minister of Energy and Natural Resources said, according to Aysor.am.

At the July 4 annual meeting of shareholders, Yervand Zakharyan informed of the planned signing of a deal between Armenia and Russia, with the latter to provide a $300 million loan to extend the NPP’s service life.

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.

 Top stories
“A 10% credit portfolio upsurge was registered in the first 7 months of 2014, with the bank planning to bring the figure to $550M,” Sahakyan said.
The revised figures are based on the forecast for the Russian economy to contract by 1.0% in 2014, followed by stagnation in 2015.
“The key powers in the region are unlikely to favor an outbreak of conflict on their southern and eastern flanks,” the report says.
The Commission aims to compensate producers who decide to not harvest some of their goods or give products away for free.
Partner news