YEREVAN, NOVEMBER 10, ARMENPRESS. New thermal power plant with a 250 MW capacity will be constructed in Yerevan within 26 months, acting deputy prime minister of Armenia Tigran Avinyan said, reports Armenpress.

“This is a joint program with the famous Italian Renco S.p.A., one more famous Italian state company, as well as the German Siemens, as a result of which we will have a thermal power station which will be the most effective among the currently operating stations and will provide us an electricity with the cheapest price”, Avinyan said.

Acting minister of energy infrastructures and natural resources Garegin Baghramyan said after the last upgrading of Yerevan’s thermal power plant, its useful operating rate has somehow increased, comprising nearly 49%. “The useful operating rate of the new power station will comprise about 53%”, he said.

The current investment program has also been discussed under the previous government, and the new government made a decision to launch talks as a result of which they came to an agreement with the investor over new, more satisfactory agreements. Avinyan clarified that based on the talks the price reached from 6.02 US cents to 5.7, which will save 6.4 million USD annually.

The new set tariff comprises nearly 27.4 AMD as of today’s exchange rates.

The construction of the new power station will involve 1000-1200 people. There will be nearly 230 jobs in the plant with high salaries.

Edited and translated by Aneta Harutyunyan