Russia will provide $270 mln Credit to Armenia to Finance Nuclear Power Plant

Updated: 26 December, 2014 seen 844

I have been watching more or less closely energy consumption in Former Soviet Union for last 6 months, today I found interesting article on - Russia to provide Armenia with $ 270 mln to extend term of NPP. Here is the newsreport:

The Russian government has approved the granting of credit to Armenia $ 270 mln to finance the extension of nuclear power plant operation, the Cabinet said on Friday.

Russia and Armenia signed earlier an intergovernmental agreement on cooperation of extending the life of the second unit of the Armenian NPP.

The parties agreed that funding for the work will be done at the expense of the loan, which Russian Federation provides to Armenia, Oxu.Az reports with reference to RIA Novosti.

"The draft executive order provides for the Armenian state export credit of up to $ 270 mln for up to 15 years to finance the extension of the life of a nuclear power plant "Metsamor" in Armenia", the statement on the website of the Cabinet says.

The life of the second unit of the Armenian station will expire in September 2016. The agreement, signed on Saturday, includes work on the extension of its operation.

Agreement on assistance in carrying out work to extend the service life of the nuclear power, the only functioning in the territory of Armenia, was reached in 2013. As part of these agreements Rosatom specialists have conducted a preliminary examination of power and formed a plan of action.

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