Energy

Armenian nuclear power station will be closed only after the construction of new nuclear power block

YEREVAN, November 18. /ARKA/. “Armenian Nuclear Power Station will be closed only after the construction of new nuclear power block", said Armen Movsisyan, Minister of Energy and Natural Resources of Armenia. He said that two reactors will be functioning in Armenia for a certain period of time. Maximum capacities of the functioning energy block will be used. Recently Armen Movsisyan met with the management of Ukrainian holding on production of turbines “Turboatom” in Yerevan.

“Viktor Subotin, General Director of “Turboatom announced about their willingness of investing 200 million dollars for modernization of Armenian Nuclear Power Station which will allow to prolong the dates of exploitation of the functioning station.

Ukrainian party suggested us to discuss such an opportunity and see whether it is advantageous for us. Currently we are discussing this proposal. But prolongation of exploitation date of Armenian Nuclear Power Station can only allow the Committee of International Experts”, said Movsisyan. In 2016 it is planned to perform global expertise of the station and its technical state, after which decision will be made whether to continue exploitation or not. “It is early to speak about prolongation of exploitation dates of the station,” said the Minister. Armenian Nuclear Power Station is located near the city Metsamor (about 30 km to the South from Yerevan).

It starts functioning in 1980 and terminated in March 1989 after the earthquake in Spitak in December 1988 which took lives of 25 thousand people. Second time it started functioning in November 1995 due to strong energy crisis in the country. Two power blocks of the station are equipped by Russian reactor ВВЭР-440 of first generation. At present functioning of the first block is terminated. The second block with the capacity of 407.5 MVt produces in average from 40% to 50% energy in Armenia. According to the assessments of the experts, the station can function till 2016.

Armenian Nuclear Power Station is under trust management of Open JSC “INTER RAO ES” since September 2003 till 2013, the owner of which is Russian state corporation "Rosatom". The date of license of Armenian Nuclear Power Station for the production of energy was prolonged on November 3, 2009 till June 10, 2014. Armenia plans to build new block of Armenian Nuclear Power Station with the capacity of about 1000 MVt. This project can cost about 5 billion dollars. With the aim of involving foreign capital for the implementation of the project, in 2006 the Parliament of Armenia cancelled the monopoly of the right of possessing new nuclear blocks. Construction works are planned to start from 2011 and the new block will function till 2017. Till that time the functioning energy block will be closed. Armenia and international consortium Worley Parsons signed a contract on management of the process of construction and montage of new energy block in the country on May 28, 2009 which will cost of 459.7 million dollars. Worley Parsons was recognized a winner of the relevant tender on May 12, 2009.-0-

18/11/2009 18:09



Market USD exchange rates
Market EUR exchange rates
Market exchange rates 12/03/2010
Currency Symbol Unit Rate Changes
USA Dollar USD 1 392.62 1.21
Euro EUR 1 540.01 5.34
Russian Rоublе RUR 1 13.40 0.11

Favorable еxchange rates of banks 12/03/2010
Currency Buy Sell
USD 391.5
Armenian Development Bank
394
ACBA-CREDIT AGRICOLE BANK
Araratbank
Byblos Bank Armenia
Conversebank
ProCreditBank
“ArmSwissBank”
Euro 534
"VTB Bank (Armenia)"
ACBA-CREDIT AGRICOLE BANK
Ameriabank
Prometey Bank
“ArmSwissBank”
541
ACBA-CREDIT AGRICOLE BANK
Cascade Bank
“ArmSwissBank”
RUR 13.2
"VTB Bank (Armenia)"
Ardshininvestbank
BTA Bank
Prometey Bank
13.35
ProCreditBank

Macroeconomics
Indicator Term Figures
economic growth,% 2009-12 85.6
GBP, billion AMD 2009-12 3165.5
inflation, % 2010-01 101.7
Budget deficit (proficit), bln AMD 2009-12 148.3
trade deficit, mln USD 2009-12 -2606.4
foreign trade turnover, mln USD 2009-12 4001.9
foreign trade turnover, % 2009-12 73
Gross External Reserves, mln. USD 2009-12 2003.41
Monetary base, billion AMD 2009-12 511.7
Money supply, billion AMD 2009-12 815

Financial market
Indicator Term Figures
Anual interests on loans
Legal entities in AMD 2010-01 14.8
Legal entities in USD 2010-01 13.5
Individuals in AMD 2010-01 22
Individuals in USD 2010-01 17.6
Anual interests on deposits
Legal entities in AMD 2010-01 6.5
Legal entities in USD 2010-01 5.4
Individuals in AMD 2010-01 9.1
Individuals in USD 2010-01 5.3
Annual profitability
state stock of CBA, % 2008-08 8
fiscal stock of Armenia, % 2010-01 8.8

The percents of the CBA
Indicator Term Figures
Banking rate 2010-03 13
Repo 2010-03 6.5
Credit 2010-03 9.5
Depo 2010-03 3.5



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