Min says Russia to prolong $270 mln loan for Arminian nuke upgrade

YEREVAN, Dec 10 (PRIME) -- Russia has agreed to prolong a U.S. $270 million loan for upgrading the Armenian Nuclear Power Plant, Territorial Management and Infrastructure Minister Suren Papikyan told reporters on Tuesday.

“The issue of loan prolongation has been discussed this year. There is mutual consent and an agreement to prolong has been already attained from the partners, the Russian Finance Ministry. This issue will be discussed at the next meeting of the government (of Armenia),” Papikyan said.

He said that prolongation of the loan until 2021 is discussed.

Armenian Nuclear Power Plant, which runs on two VVER-440 reactors, was halted in 1989 after an earthquake. The second unit was relaunched in 1995 and its life is to be prolonged until 2026. Russia also provided a $30 million grant for 15 years for the plant.

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