News - New company being created for building of Armenia’s new nuclear plant

At Thursday's Cabinet meeting, the government established the Construction of a New Nuclear Power Unit closed joint-stock company, in accordance with the guidelines of the International Atomic Energy Agency, and for managing the project of building a new nuclear power unit—or units—in Armenia. Gnel Sanosyan, Minister of Territorial Administration and Infrastructure of Armenia, presenting the project, noted that the schedule of the strategic plan for the development of the energy sector of Armenia—until 2040—envisages the construction of a replacement capacity power unit on the platform of Armenia’s existing nuclear plant after the end of the operation period of the second power unit of the plant, considering also small modular reactors in case of economic expediency. The general management of the aforesaid company shall be carried out by the Ministry of Territorial Administration and Infrastructure of Armenia. According to the preliminary estimate, the budget of this new company will amount to 200 million drams for 2024.