A closed joint-stock company will be created to manage the construction project of a new nuclear power unit in Armenia․ The decision was made at the Government sitting today.
According to the 2021-2026 Program of the Armenian Government, one of the keys to the sustainable development of Armenia’s energy sector is the development of atomic energy for peaceful purposes.
In order to implement the project of building a new nuclear power unit in Armenia in a more institutional and systematic manner, the Government proposes to create an organization in accordance with the Milestones in the Development of a National Infrastructure for Nuclear Power guidelines published by the International Atomic Energy Agency. The above organization should conduct a comparative study between all the proposed technologies and feasibility studies, based on which it will present its professional proposal on the choice of technology. After the latter is approved by the Government, the organization must negotiate and prepare the documents related to the construction, financing, possession and operation of the new nuclear power unit/s.
According to an approximate estimate, the organization will need an annual budget of around 800 million drams ($2 million) during the preparatory phase of technology selection and station construction. Under IAEA guidelines, a staff of 50-60 highly qualified specialists in various fields (electricity, nuclear physics, environmental protection, education, urban planning, etc.) is needed for the implementation of such a project.
Given the stage of development of nuclear technologies in the world and geopolitical developments, within 1.5-2 years after the creation of this organization and the recruitment of relevant personnel, it will be able to give the government a reasoned proposal regarding the choice of technology.
The size of the company’s statutory capital is set at 200,000,000 drams, which is divided into 20,000 common (ordinary) shares with a nominal value of 10,000 drams each. All shares of the company belong to the Republic of Armenia.
