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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.

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The funding will go to a subsidiary of ContourGlobal, an international power-generation company that acquired the Vorotan Cascade in 2015.
"We are yet unable to disclose the names of companies we are conducting negotiations with," Satenik Hovhannisyan said.
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