ArmInfo.Possible disputes over the construction project in Yerevan of a new thermal unit will be resolved in the International Chamber of Commerce (ICC). At a meeting on May 23, the Armenian Cabinet of Ministers approved the signing of an additional document to the agreement between the RA government and Armpower and Renco companies.
According to the background document of the draft decision, a typo was previously revealed that did not allow the agreement to be fully used.
The, in particular, in particular concerned the possibility of appealing to the London Arbitration Court, which is inconsistent with the rules of the International Chamber of Commerce. After the negotiations, an agreement was reached on the possibility of applying to the ICC. In this regard, the Ministry of Energy Infrastructures and Natural Resources of the Republic of Armenia was instructed to sign this document on behalf of the RA Government.
Earlier, ArmInfo reported that on January 17 of this year, speaking at a government meeting, RA Justice Minister Artak Zeynalyan reported that the project to build a 250 MW thermal unit in Armenia is economically justified and takes into account the interests of all program participants. According to the minister, who presented the draft framework agreement between the RA government, Renco and Armpower companies, the presented document is a continuation of the previously signed agreement between the RA government and Renco company, which envisages the construction of a new power unit. It regulates issues related to guarantees and financing the start of construction work.
In turn, the First Deputy Minister of Energy Infrastructures and Natural Resources of the Republic of Armenia Garegin Baghramyan stressed that about 1,200 people would be involved in the construction of the facility, and another 250 people would be provided with well-paid jobs during the operation of the unit. In addition, 70 employees of the thermal unit will be retrained in Germany at Siemens. A new unit with a combined-cycle cycle will be built on the territory adjacent to the Yerevan TPP. According to the results of intensive two-month negotiations with Renco , 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 of electricity. For example, the tariff from the fifth unit of the Hrazdan TPP is equal to 31.5 drams, and from the current unit 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 a practical phase, and construction will begin. 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 will correspond to the company's activities - electricity production. The total investment will be $ 250 million. The new technologies will be used in the construction of the facility, with the result that the new unit will have a high level of efficiency and will become the only unit of this level in the region.