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YEREVAN. – The Government of Armenia and Anaklia IEP Holding Ltd. on Friday signed the fundamentals of an agreement.

The agreement envisions the construction and operation of a 540 MW-capacity gas electric-power station in Armenia.

To implement the project, Anaklia IEP Holding will invest around $600 million, and General Electric-model gas turbines will be installed in the station.

The Armenian government will assist in a variety of matters.

Construction of the gas electric-power station will help raise Armenia’s energy security and ensure its viability, develop the country’s production capacity, and increase the volume of Armenia’s electricity export.


 

 

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