Armenia will raise new funds to upgrade nuclear plant

Armenia will raise new funds to upgrade nuclear plant

PanARMENIAN.Net - Armenia will raise new funds to upgrade the Nuclear Power Plant in Metsamor, Minister of Territorial Administration and Infrastructures Suren Papikyan said in the parliament on Thursday, May 7.

According to him, authorities are planning to change the format of financing, and no funds from Russia will be attracted.

“Armenia is considering raising new funds right. And we are negotiating with partners to not extend the loan agreement that has expired,” Papikyan explained.

Most of the $270 million loan provided by Russia has already been spent on the modernization of the NPP.

 Top stories
Armenia's international reserves amounted to $3.5 billion, according to a report from the country's Central Bank.
Trade between Armenian and Iranian increased by 43.5% in the first 10 months of 2022, rising from $390 million to around $560 million.
There’s a growing demand for Armenian sprits in Russia amid Western sanctions on the supply of alcohol to the country.
Vahan Kerobyan said Armenia will most probably introduce a ban on the sale of Turkish products as well.
Partner news