During Thursday’s Cabinet meeting, the government of Armenia established the Construction of a New Nuclear Power Unit closed joint-stock company, following the guidelines of the International Atomic Energy Agency. This company will manage the project of building a new nuclear power unit, or potentially multiple units, in Armenia.
Gnel Sanosyan, Minister of Territorial Administration and Infrastructure, presented the project and highlighted the strategic plan for the energy sector development in Armenia until 2040. The plan includes constructing a replacement capacity power unit at the existing nuclear plant site after the second unit’s operational period ends, with the possibility of incorporating small modular reactors for economic efficiency.
The Ministry of Territorial Administration and Infrastructure will oversee the general management of the new company. The estimated budget for the company in 2024 is around 200 million drams.