Tuesday, November 13 2018 11:08
Alexandr Avanesov

Agreement on construction of a new unit with combined gas cycle  signed in Yerevan

Agreement on construction of a new unit with combined gas cycle  signed in Yerevan

ArmInfo. The new unit at the Yerevan Thermal Power Plant is aimed at compensating the capacity of the Hrazdan TPP, Acting Minister of Energy Infrastructures and  Natural Resources of Armenia Garegin Baghramyan stated answering the  question of ArmInfo on November 13, after signing an agreement with  the Renco company, which will build the thermal generation facility.

According to him, because of deterioration, the Hrazdan TPP will be  completely decommissioned next year. A new unit with a combined steam  and gas cycle will be built on the territory adjacent to the Yerevan  TPP. Construction work will take 25 months. 1200 people will be  involved in the project implementation process, another 230-250  people will be provided with permanent work and high wages during the  operation of the unit. According to the results of intensive  two-month negotiations with Renco company, it was possible to reach  an agreement on the electricity tariff - it will be 5.7 cents per 1  kW. / H instead of the previously agreed tariff of 6.02 cents. Thus,  the cost from the future generation facility will be the lowest among  similar units operating in Armenia and will make 27.4 drams per 1 kW  / h electricity. For example, the tariff from the fifth block of the  Hrazdan TPP is equal to 31.5 drams, and from the current block on the  Yerevan TPP - to 29.4 drams. Thus, Garegin Baghramyan continued, $  6.4 million will be saved every month. During construction, the best  efficient technologies will be used, and the efficiency will be 53%,  while this indicator of the fifth block of the Hrazdan TPP is 44%,  and the Yerevan TPP - 49%. After two months of preparation, the  project will enter the practical phase and construction will begin,  the Acting Minister informed.

In turn, the CEO of Renco Giovanni Rubini stressed that for the first  time in the last 20 years, Renco will implement a project in Armenia  that corresponds to the company's activities - electricity  production. The total investment will amount to $ 250 million. The  new technologies will be used in the construction of the facility,  with the result that the new unit will be with a high level of  efficiency and will become the only unit of this level in the region.  He stressed that 40% of the shares in the company that will operate  the unit will belong to the general contractor of the project,  Siemens, and the remaining 60% to Renco.4

Previously Acting Prime Minister Nikol Pashinyan noted that building  a new block is an important program because it will allow not only to  maintain the electricity tariff at the same level, but also to  explore opportunities for its reduction. The program is also  important in terms of attracting investment. The head of government  added that a provision, which raised the country's central bank's  concern was removed from the draft agreement. "This project will have  a positive impact on the country's energy sector, but here it is  important to strictly adhere to the timing of its implementation,"  said Nikol Pashinyan, adding that today's decision of the executive  body is a signal to international investors, since recently the  actions of the new authorities of Armenia have been misinterpreted by  international structures.

READ ALL COMMENTS

Эдвард Арзуманян
Вывод из эксплуатации блоков Разданской ТЭЦ- это пока не однозначно- не для этого Ташир-груп выкупает его активы. Все доводы статьи - только одна сторона дела- есть и отрицательные факторы. Полностью мое мнение -см. на моей странице фейсбука.

POST A COMMENT
Input digits     


News
Contract documents for supply of Russian nuclear fuel for Armenian  NPP have been signedContract documents for supply of Russian nuclear fuel for Armenian  NPP have been signed
Armenian parliament adopted amendments to Tax Code: changes are aimed at improving the competitiveness of the national economyArmenian parliament adopted amendments to Tax Code: changes are aimed at improving the competitiveness of the national economy
Forecast by Eurasian Economic Commission: The level of grain   provision to Armenia will increase from 75.5% to 102% in 2020Forecast by Eurasian Economic Commission: The level of grain provision to Armenia will increase from 75.5% to 102% in 2020
State fees for financial organizations to be increased in ArmeniaState fees for financial organizations to be increased in Armenia
In Armenia, economic activity increased by 7.3% per annum in   January-May 2019In Armenia, economic activity increased by 7.3% per annum in January-May 2019
<Armenia> partially compensates for the cancellation of air links between Russia and Georgia partially compensates for the cancellation of air links between Russia and Georgia
Two memorandums of understanding signed on the fields of Two memorandums of understanding signed on the fields of "Engineering week in Yerevan"
From July 12, Smartavia will start operating Yerevan-Moscow flightsFrom July 12, Smartavia will start operating Yerevan-Moscow flights
Ways for most effective cooperation between FAO and Armenia were   discussed in RomeWays for most effective cooperation between FAO and Armenia were discussed in Rome
On June 17-21 the volume of transactions decreased by 21.5% at the   currency interbank market of ArmeniaOn June 17-21 the volume of transactions decreased by 21.5% at the currency interbank market of Armenia
Weekend market of agricultural products lunched in YerevanWeekend market of agricultural products lunched in Yerevan
New rates and regulations for garbage removal and disposal will be   set in ArmeniaNew rates and regulations for garbage removal and disposal will be set in Armenia
Hayk Chobanyan: We should make Tavush the best place for restHayk Chobanyan: We should make Tavush the best place for rest
"My Step for Tavush" Forum lays the foundation for the formation of the program "Invest in Tavush"
Nikol Pashinyan: Everyone is talented in a certain way, and the main   task of the government is to help people discover their talentNikol Pashinyan: Everyone is talented in a certain way, and the main task of the government is to help people discover their talent
Armenian President discussed prospects for cooperation with leadership of French Armenian President discussed prospects for cooperation with leadership of French "THALES Group" company
Armenian President within the framework of Paris Air Show familiarized himself with latest Russian-made aircraft modelsArmenian President within the framework of Paris Air Show familiarized himself with latest Russian-made aircraft models
In Minsk held a session of EEC collegium chaired by  Deputy Prime Minister of Armenia Mher GrigoryanIn Minsk held a session of EEC collegium chaired by  Deputy Prime Minister of Armenia Mher Grigoryan
Tigran Avinyan and Piotr Switalski discussed ways of deepening Armenia-EU cooperation in the fields of energy, IT and business communicationTigran Avinyan and Piotr Switalski discussed ways of deepening Armenia-EU cooperation in the fields of energy, IT and business communication
President of Armenia and representative of President of Armenia and representative of "Dassault Group" discussed prospects for cooperation in the aviation field
Issues of cooperation in the field of postal services were discussed   by the Deputy Prime Minister and the representative of Issues of cooperation in the field of postal services were discussed by the Deputy Prime Minister and the representative of "La Poste"
Two investment companies merged in Armenia: ``Armenbrok`` acquired   ``Capital Investments``Two investment companies merged in Armenia: ``Armenbrok`` acquired ``Capital Investments``
Property tax in Armenia will increase significantly from 2021Property tax in Armenia will increase significantly from 2021
Head of state cadastre: Expensive real estate of former governor of   Syunik, Surik Khachatryan has not been registered up to this dayHead of state cadastre: Expensive real estate of former governor of Syunik, Surik Khachatryan has not been registered up to this day
Oppositionist: At the very least the concept of development is   necessary for the economic revolutionOppositionist: At the very least the concept of development is necessary for the economic revolution
Ameriabank, through  Zangi app, opens up  possibility for customers   to contact  bank from anywhere in world for freeAmeriabank, through Zangi app, opens up possibility for customers to contact bank from anywhere in world for free
German KfW Bank will provide Armenia with a grant of 2.7 million euros for development of documentation for restoration of Kaps reservoirGerman KfW Bank will provide Armenia with a grant of 2.7 million euros for development of documentation for restoration of Kaps reservoir
Assistance to seasonal workers involved in agricultural work will be taken up by regional employment centersAssistance to seasonal workers involved in agricultural work will be taken up by regional employment centers
Nazaruk: Armenia and Belarus complement each other in goods and servicesNazaruk: Armenia and Belarus complement each other in goods and services
PM: There are no problems with money in Armenia, there is a problem with their effective usePM: There are no problems with money in Armenia, there is a problem with their effective use


Exchange rates
25.06.2019
RUB7.610.01
USD477.07-0.74
EUR542.91-1.41
GBP608.65-0.99
CAD362.10-0.34
JPY44.550.04
CNY69.56-0.19
CHF488.80-1.01


Experts
HSBC Bank Armenia digitalizes cooperation with retail clients HSBC Bank Armenia digitalizes cooperation with retail clients 
AmRating agency in cooperation with European Rating-Agentur Expert RA  GmbH has issued regular research on Armenia`s banking systemAmRating agency in cooperation with European Rating-Agentur Expert RA  GmbH has issued regular research on Armenia`s banking system
Yulia Ustyugova: Armenia can get access to IMF “insurance line”Yulia Ustyugova: Armenia can get access to IMF “insurance line”
Armand Arton: The question whether citizenship should be granted in  return for investments is rather rhetoricalArmand Arton: The question whether citizenship should be granted in  return for investments is rather rhetorical
Former head of the Ministry of Finance: <Confrontation> with Lydian may cost much to ArmeniaFormer head of the Ministry of Finance: with Lydian may cost much to Armenia
Vardan Aramyan: It will be unreasonable if the government goes to revise the allowable national debt ceiling in GDPVardan Aramyan: It will be unreasonable if the government goes to revise the allowable national debt ceiling in GDP
HSBC Bank Armenia increases efficiency and focuses on digital servicesHSBC Bank Armenia increases efficiency and focuses on digital services
Bulgarian Minister: The level of Armenian-Bulgarian economic  cooperation is still unsatisfactoryBulgarian Minister: The level of Armenian-Bulgarian economic  cooperation is still unsatisfactory
Expert: Recruitment market in Armenia from the point of view of  supply and demand is sleepingExpert: Recruitment market in Armenia from the point of view of  supply and demand is sleeping
Expert: Despite the adequacy of Armenian banks` capitals, the  opportunities for its optimal use are severely limitedExpert: Despite the adequacy of Armenian banks` capitals, the  opportunities for its optimal use are severely limited
Association of Organic Agriculture is being created in ArmeniaAssociation of Organic Agriculture is being created in Armenia
Pailak Tadevosyan: Governments change in Armenia, but taxation  approaches do not changePailak Tadevosyan: Governments change in Armenia, but taxation  approaches do not change
Rouben Indjikian: Everyone should follow the established unified and fair rules of the gameRouben Indjikian: Everyone should follow the established unified and fair rules of the game
Mher Arakelyan:  Armenia`s payment business has great prospectsMher Arakelyan:  Armenia`s payment business has great prospects
Rating-Agentur Expert RA GmbH and AmRating issued an industry report  on Armenia`s banking systemRating-Agentur Expert RA GmbH and AmRating issued an industry report on Armenia`s banking system
Igor Nazaruk: Each planted sprout has the right to a successful prospect if it is cherished and taken care ofIgor Nazaruk: Each planted sprout has the right to a successful prospect if it is cherished and taken care of
Ara Khzmalyan: Armenia is comfortable to Russian touristAra Khzmalyan: Armenia is comfortable to Russian tourist
The Armenian delegation to the US followed the advice of President TrumpThe Armenian delegation to the US followed the advice of President Trump
Outflow of population and passivity of the Diaspora pushes property prices downOutflow of population and passivity of the Diaspora pushes property prices down
Finombudsman: Amendments to the Civil Code on the imposition of fines and penalties will reduce the number of outstanding loans and  non-creditworthy consumersFinombudsman: Amendments to the Civil Code on the imposition of fines and penalties will reduce the number of outstanding loans and non-creditworthy consumers

Search by date

Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000

Commented
Forecast: Armenia has good prospects for expanding its presence in  the Polish marketForecast: Armenia has good prospects for expanding its presence in  the Polish market
Armenian government`s delegation headed by Prime Minister will take  part in the St. Petersburg International Economic Forum on June 6-7Armenian government`s delegation headed by Prime Minister will take  part in the St. Petersburg International Economic Forum on June 6-7
Concessionaire of Zvartnots International Airport promises to become  one of the best operators in the worldConcessionaire of Zvartnots International Airport promises to become  one of the best operators in the world
Arthur Javadyan: Central banks are not responsible for economic  growthArthur Javadyan: Central banks are not responsible for economic  growth
Forecast: Electricity exports to the Middle East through Iran are a  key component of Armenia`s geo- economic strategyForecast: Electricity exports to the Middle East through Iran are a  key component of Armenia`s geo- economic strategy
ArmInfo IC: In Armenia,  CMTPL loss ratio increased up to 64.5% in Q1  2019ArmInfo IC: In Armenia,  CMTPL loss ratio increased up to 64.5% in Q1  2019
Overdue loans accelerate growth in banking system of ArmeniaOverdue loans accelerate growth in banking system of Armenia
RA Prime Minister: European Union is not ready to finance 100% of  development programs implementation in ArmeniaRA Prime Minister: European Union is not ready to finance 100% of  development programs implementation in Armenia
T.Avinyan: The Government is open for cooperation and encourages  active dialogue and interaction in all areas T.Avinyan: The Government is open for cooperation and encourages  active dialogue and interaction in all areas 
Agreement on construction of a new unit with combined gas cycle  signed in YerevanAgreement on construction of a new unit with combined gas cycle  signed in Yerevan
Veolia Jur: Regulatory charges are false and unfoundedVeolia Jur: Regulatory charges are false and unfounded
Armenian Prime Minister: We are gaining momentum for economic takeoffArmenian Prime Minister: We are gaining momentum for economic takeoff
Through the mobile banking application of Ardshinbank you can get a  loan in seconds.Through the mobile banking application of Ardshinbank you can get a  loan in seconds.
By the end of 2018, By the end of 2018, "Galburdjian Group" will launch the production of  sesame oil in Armenia
Expert: Armenia has a problem with effective use of water resources,  rather than small hydropower stationsExpert: Armenia has a problem with effective use of water resources,  rather than small hydropower stations
Investment forum Investment forum "Energy Week 2018" to be held in Armenia
Expert: It is necessary to start implementing the program for the  construction of a new nuclear unitExpert: It is necessary to start implementing the program for the  construction of a new nuclear unit
The Armenian government suggests raising the minimum pension by 60%The Armenian government suggests raising the minimum pension by 60%
"Rad Sane Vashamir Group" is exempted from VAT payments for equipment imported to Armenia for three years
The updated feasibility study of construction project of electricity transmission line Armenia- Georgia will be ready by the end of the year - the Ministry of EnergyThe updated feasibility study of construction project of electricity transmission line Armenia- Georgia will be ready by the end of the year - the Ministry of Energy
Eurasian Development Bank wishes to expand its activities in ArmeniaEurasian Development Bank wishes to expand its activities in Armenia
$ 100 million to be invested in repatriation project Build Armenia$ 100 million to be invested in repatriation project Build Armenia
FRV: Armenia`s growing desire to increase renewable energy sources is  a decisive factorFRV: Armenia`s growing desire to increase renewable energy sources is a decisive factor
Suren Papikyan: It`s safe now to do business in Armenia, assures  Armenian MinisterSuren Papikyan: It`s safe now to do business in Armenia, assures  Armenian Minister