UES of Russia takes control of Armenian power station

18.09.2003 06:24

The Armenian government decided yesterday to hand over the Armenian nuclear power station, which is owned by the government, to United Energy Systems of Russia for a five-year period. As a Rosbalt correspondent reports, this was announced by the press office of the Armenian government.

According to the agreement, which will be signed today, UES of Russia will also manage the financial affairs of the power station. In return, UES of Russia has agreed to pay off the power station's debts of USD 40 million for nuclear fuel. Armenia has also transferred ownership of the Razdan heat and power plant, valued at USD 25 million, to the Russian company. The remaining USD 15 million are expected to paid off from the profits of the nuclear power station.

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Author`s name Editorial Team

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