YEREVAN. – The Russian state nuclear energy corporation (Rosatom) and the Armenian side will complete diagnosis of the Armenian NPP in early 2014, Energy Minister said.

As a result, budget for modernization of the NPP will be determined, after which the Russian side will grant a loan, Energy Minister Armen Movsisyan told Armenian News-NEWS.am.

“Credit must be given in a very short period of time,” Minister noted.

Funds will be used to extend the deadline for operation of the Armenian NPP from 2016 to 2026.

As previously noted by Vahram Petrosyan, the secretary of presidential council on nuclear energy safety, the restoration of a stations with the same reactor is estimated at $120-160 million