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.