Russia to assist Armenia in Rehabilitating Nuclear Power Station

Russia will issue a $300 million credit for Armenia for the reconstruction of the Metsamor Nuclear Power Station, Armenia’s Prime Minister Ovik Abramian stated on May 30. This agreement was achieved during the meeting with Abramian and Dmitriy Medvedev. The Armenian Nuclear Power Station has been functioning since 1980. However, it was stopped after the devastating earthquake of 1988. It was re-launched again in 1995 because of the acute energy crisis in the country. It is equipped with first generation Russian-made facilities. Experts think that it can function up to 2016 with its existing reserves. In March of this year, the Armenian government approved the suggestion to exploit the power station for yet another ten years. The money received from Russia will be spent for the purpose.