Inter RAO UES plans to renew contract with Armenia

he Iter RAO UES plans to sign a new contract for operation of the
Armenian Nuclear Power Plant before the end of the summer, the
company's CEO, Boris Kovalchuk, said, RIA Novosti reports.

Armenia has only one nuclear power plant, which produces about 40-50%
of electricity in the country. The Armenian Nuclear Power Plant will
halt its operations in 2016.

The Armenian authorities are panning to build a new station on an
existing site. According to the Ministry of Energy of Armenia, the
project  could cost about $5 billion.