ARMENIA WILL BUILD NEW REACTOR BUT WHO’S PAYING?
December 1st, 2010
BY MARK GODFREY
FINANCING is the crunch issue in Armenia's newly announced plans to build a new unit at its Metsamor nuclear power plant. The VVER (water-water energetic reactor) 1000 reactor to be built in a 50/50 joint venture with Russia's Atomstroyexport will, according to Armenian government sources, be operational by 2018.
Yet the USD5 billion price tag is a big ask for a country whose GDP (gross domestic product) shrunk 15% in 2009 due to the global economic crisis. Armenia plans to source 60% of the reactor's funding from private foreign investors, and ...
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