EU to allocate $100m for improving safety standards at Armenian Nuclear Power Plant

The European Union is ready to provide $100m for guaranteeing the safety ofthe Armenian Nuclear Power Plant. Armenian Finance and Economy MinisterVardan Khachatryan gave this information to reporters today. He pointed outthat Armenia needed much more money for that purpose, which could bereceived only from private investors. He did not rule out the possibilitythat the Armenian Nuclear Power Plant would be repaired and would continueits work until alternative sources of electrical power are created inArmenia, the ARKA news agency reported. EU experts had made repeated requests to close the Armenian Nuclear PowerPlant by 2004 for safety reasons. However, experts estimated that the powerplant, put into operation in 1980, could work until 2018. The capacity ofeach reactor of the Armenian Nuclear Power Plant is 407.5 megawatts. .