28 Feb 2020 13:28

Issue of extending Russian loan for update of Armenian nuclear plant still undecided - project lead

YEREVAN. Feb 28 (Interfax) - The issue of extending the duration of a Russian loan of $270 million granted for the modernization of the Metsomar Nuclear Power Plant in Armenia has not been finally decided, the head of the project to extend the plant's service life on the Russian side, Yury Sviridenko said.

"As far as I know, it's not decided, negotiations are being held," Sviridenko told reporters in Yerevan at a discussion on the outlook for the development of the nuclear sector in Armenia.

He also said that the "program we began to modernize the safety system [at the Armenian plant] must be continued."

"The main work is planned for 2021. The budget is being discussed. A final decision has not been made yet. About $200 million has already been spent on modernization in the past years," Sviridenko said.

Asked if the work will be completed by 2022, he said that everything depends on the timing of the financing. "Technically we can make it," Sviridenko said.