Energy

Armenia and Russia to set up joint venture to deal with construction of new unit for Metsamor nuclear power plant

YEREVAN, December 3, /ARKA/. The Armenian government has approved today a decision on establishment of a joint Armenian-Russian company that will be dealing with construction of a new unit for Armenian nuclear power plant.

Construction of a new nuclear power unit will be managed by the Australian Worley Parsons engineering company which has won a tender announced by the Armenian government. Armenia wants to replace the aging Metsamor plant by 2017.

Energy and mineral resources minister Armen Movsisyan said today based on the feasibility study conducted by Worley Parsons, the government has approved installment of a Russia-manufactured energy unit.

According to the minister, with a projected capacity of 1,060 megawatts, the new facility would be more than twice as powerful as Metsamor’s sole operating reactor that generates more than 40% of Armenia’s electricity and will serve for 60 years and secure European safety level.

He said his ministry was told by the government to set up a 50-50 percent closed joint stock company with Russian Atomstroyexport with 60 million Drams authorized capitally.

Prime minister Tigran Sarkisian described the decision as ‘political,’ saying it s part of a strategy that was approved by the Armenian National Security Council.

The Armenian government has yet to attract funding for the project which is estimated to cost at as much as $5 billion.

Under a 2003 agreement Armenian nuclear power plant’s financial flows are managed by Russian Inter RAO UES, owned by Russian state-run Rosatom corporation. The agreement expires in 2013. Experts say the plant can operate until 2016. -0-

 

03/12/2009 21:37



Market USD exchange rates
Market EUR exchange rates
Market exchange rates 15/03/2010
Currency Symbol Unit Rate Changes
USA Dollar USD 1 394.48 1.86
Euro EUR 1 540.91 0.9
Russian Rоublе RUR 1 13.44 0.04

Favorable еxchange rates of banks 16/03/2010
Currency Buy Sell
USD 396.5
Armenian Development Bank
396
Artsakhbank
Euro 540
Ameriabank
ArmBusinessBank
Armenian Development Bank
ProCreditBank
546
ACBA-CREDIT AGRICOLE BANK
Araratbank
“ArmSwissBank”
RUR 13.32
“ArmSwissBank”
13.5
ACBA-CREDIT AGRICOLE BANK
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



...