By Alexander Tagvoryan

YEREVAN, July 30–The Armenian government approved the financial agreement with the Commission of the European Communities in the field of nuclear safety, according to which the EU will provide the country 11 million euros.

According to the first deputy minister of economy Karine Minasyan, the agreement will be implemented in three areas: promoting nuclear safety, securing the nuclear waste and strengthening potential in this area.

The program is expected to be completed in 96 months after the agreement comes into force. A new nuclear waste management strategy is also going to be developed.

Today, Armenia has the only nuclear power plant in the area called Armenian Nuclear Power Plant (ANPP), which is located in the town of Metsamor. The station began functioning in 1976, and currently only the second stack of the station with a power of 407.5 MW operates. Annually, the ANPP produces 90 containers of nuclear fuel.

According to experts, the ANPP can operate until 2016.

Armenia plans to build a new power plant with a capacity of about 1000 MW and, according to the Ministry of Energy, the project will cost about $5 billion. In order to attract foreign capital for the project, the Armenian parliament in 2006 abolished the state monopoly on ownership of the new nuclear units.

The construction is scheduled to start in the beginning of 2011.

Yerevan Report