27 / January / 2020

$134mn to be allocated to extend Armenia nuclear plant lifetime in 2018

YEREVAN. – A total of $134 million will be allocated in 2018, to extend the operation of the nuclear power plant of Armenia.

The aforesaid is noted in the draft of the 2018 State Budget, whose joint debates continue Tuesday at the standing committees of the National Assembly.

The plant accounts for up to 40 percent of the electricity produced in Armenia.

According to next year’s budget draft, about 57.6 billion drams ($120 million) will be provided within the framework of the respective loan program, and the grant funding will amount to close to 6.8 billion drams ($14 million):

To note, the Russian government has allocated a $270-million loan and a $30-million grant for this project.

The operation of this nuclear plant will be extended until 2027.

At present, the Armenian authorities are considering the prospect for building a new nuclear plant and extending the old plant’s lifetime for a second time.

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