KLEBANOV CAME TO ARMENIA TO DISCUSS DEBT ISSUE

Support A1+!

Visits of Ilya Klebanov, Russian Minister of Industry, Science and Technologies, are as rule connected with our debts to Russians. This time, a mechanism for payment of the debt for the nuclear fuel used by Armenian Nuclear Power Plant and purchasing new fuel is to be worked out.

Debt repayment issue is put at the top of the agenda of the Economic Cooperation Armenian-Russian intergovernmental commission’s 5th meeting. Klebanov says proposals on debt repayment were handed to Armenian side few days earlier.

This is the second day the United Power Network Russian shareholding company representative is in Armenia.

Yet last month, when Robert Kocharyan visited to Moscow, Russian media released the details of the agreement expected to be signed tomorrow.

Russian sources said the above-mentioned Russian company would transfer the TVEL fuel-providing company $40 million to cover the plant’s $32-million debt and pay for a new consignment of nuclear fuel. And ANPP is to be passed under the UPN licensed governing.

Armenia also pawned Sevan-Hrazdan hydroelectric plant for $40 million, the sources said.

Armenian officials have immediately denied the Russian sources’ information saying the finale mechanism for the debt repayment isn’t designed yet.

Armenian side is believed trying to avoid pawing the hydroelectric plant. Armenian government sources say it intends to pay $40 million from sells of exported power.

The UPN has an opportunity to sell Armenian power without the agreement, which is now under discussion. Hrazdan heat station is to be passed on to Russians. However, it should be placed on record, that cost price of electricity produced by the hydroelectric station makes 3 to 4 drams while nuke energy costs – 7 drams and heat-station-produced power – 17 to 18 drams. The difference is obvious.

It is remarkable that Russia will gain in total 80% of Armenia’s energy power from possessing heat and governing nuclear plants.