The government of Armenia agreed to conclude a deal with Russia on Thursday to cooperate in constructing new nuclear energy blocks in Armenia, News Armenia reports.
The Minister of Energy and Natural Resources of Armenia Armen Movsisyan said that the new water cooled reactor, which meets EU standards, will produce 1060 megawatts and will operate for 60 years.
Armenia has only one nuclear power plant, in the city of Metsamor. It was launched in 1976 and only its second block is functioning, producing 407.5 megawatts.
Armenia plans to build a new nuclear block producing 1000 megawatts. The Ministry of Energy said that the project may cost $5 billion. The Armenian parliament cancelled the state monopoly for the ownership of nuclear blocks in 2006 to invite investors. The construction will start in 2011.
