Italian Renco to build new power house in YerevanNovember 20, 2015 - 10:30 AMT PanARMENIAN.Net - The Armenian government on Thursday, November 19, approved the signing of a memorandum with Italian Renco construction company that will build a new power – generating unit in Yerevan, ARKA reports. Energy and Natural Resources Minister Yervand Zakharyan said the power house with 234 MW capacity is planned to be built near the Yerevan thermal power station. He noted that Renco expressed interest in the construction of the power plant and its further operation. According to the Minister, the program envisages a total of $215 million investment. The sides will sign the agreement on the construction of the power unit once the preparatory work is over, he said. "We expect to conclude the construction before the end of 2018,” Zakharyan said. Prime Minister Hovik Abrahamyan ordered the ministry to attend to every detail of the issue and discuss it with all interested parties within 2-3 days. Besides the reconstructed Yerevan Hotel in the Armenian capital, Renco has built the Congress Hotel, the building of the Central Bank in Dilijan and the business center Piazza Grande. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia to participate in key EU meeting for the first time ever National Assembly speaker Alen Simonyan has said that Armenia will for the first time participate in the Conference. U.S. reacts to Russia’s criticism of upcoming Armenia-EU-U.S. meeting Matthew Miller has weighed in on Russia’s criticism of an upcoming Armenia-EU-U.S. meeting. Lavrov sees ‘collapse’ of Russia’s ties with Armenia Russian Foreign Minister Sergey Lavrov has underscored heightened tensions between Russia and Armenia. Russia clarifying reports on Baku’s alleged arms supply to Ukraine Russia says is carefully working to verify reports about alleged arms supplies from Azerbaijan to Ukraine |