The design and construction of a new nuclear reactor will get under way after all the parameters have been determined in conformity with the client’s requirements, and financing issues have been settled, a source at the Atomstroyexport JSC told NEWS.am. The cost of the project has not yet been determined.

The cost of the project will be agreed in developing a financing plan of the project. The cost is calculated in conformity with technical terms, which are to be incorporated in the contract.

As to Russia’s participation in taking the currently operating reactor out of service, the source said that Atomstroyexport is ready to consider Armenia’s request.

The Atomstroyexport JSC has the necessary potential. The company is sole owner of NUKEM Technologies GmbH, which has the necessary experience in taking nuclear reactors out of service and in disposing of nuclear waste. The purchase of NUKEM Technologies GmbH increased Atomstroyexport’s engineering potential, which is necessary for implementing national nuclear sector development programs in any country, applying state-of-the-art technologies.

According to the source, the new nuclear reactor is a high-performance and environmentally friendly one, with a long operating life. It is a water-moderated water-cooled power reactor.

A digital control system is applied in the project, which prevents any critical situations. The construction project will be implemented in conformity with European Utility Requirements for LWR nuclear power plants. It also meets the IAEA recommendations and all the international safety requirements.

The RA Government reported the signing of an Armenian-Russian agreement on cooperation in the construction of nuclear reactors in Armenia. The first point of the agreement provides for the construction of new reactors in Armenia in conformity with European Utility Requirements. The operating life of each reactor is 60 years.