Inter RAO UES company stops management of financial flows of the Armenian NPP - Armen Movsisyan.

No new contract will be signed with Russian Inter RAO UES company with respect to the asset management of Armenia’s Nuclear Power Plant, Minister of Energy and Natural Resources, Armen Movsisyan, stated during a press conference on Thursday.  

In his words, in 2003 the Plant was assigned for asset management because it had a US$ 40-$50 million debt for the supply of nuclear fuel, and the suppliers needed a guarantee. And Inter RAO UES’s asset management was that guarantee. And as per the Minister, Inter RAO UES has nothing to do at the Plant any longer, since the payments are duteously made.      

As it was informed earlier, Inter RAO UES is dissatisfied with the Plant’s asset management terms, and it intends to terminate the contract.