YEREVAN.- The Armenian Government signed a direct agreement on the construction of 250-megawatt-capacity thermal power plant in Yerevan, the press service of the Deputy Prime Minister Tigran Avinyan reported.

The agreement was signed by the acting Minister of Energy Infrastructures and Natural Resources Garegin Baghramyan, Regional Manager of the International Finance Corporation (World Bank Group) Jan van Bilsen, the head of the Asian Development Bank (ADB) office in Yerevan, Shane Rosenthal,  CEO Giovanni Rubini of Renco S.p.A. of Italy, representative ofArmpower, Simone Giovanni, General Director of AmeriaBank, Artak Hanesyan and Managing Director at Siemens Project Ventures GmbH, Klaus Kolof.

A program worth $ 250 million will be implemented in 26 months, the electricity generated by the station will be the cheapest in the country. 1000-1200 people will take part in the construction of the station.