New nuclear power station in Armenia

The new nuclear power station which will be built in Armenia will produce 1,200 megawatts of electro energy and cost an estimated USD 4.5 billion. Armenian Minister of Energy Armen Movsisian has stated that 7 years ago the estimated price was USD 800 million but since then prices of construction materials have increased dramatically. He does not rule out the cost increasing further during construction.

At the end of May the Armenian Government signed a contract with Australian company Worley Parsons regarding this construction. The Minister said that the new station should function for 60 years and be equipped with all the necessary safety structures. The old station had a lifespan of 30 years. Construction is expected to start in 2012 and the facility will start functioning around 2017.