Armenia received the consent of the Russian finance ministry regarding the extension of the loan term for $ 270 million for the modernization of the second unit of the Armenian Nuclear Power Plant, said Armenian Minister of Territorial Administration and Infrastructures Suren Papikyan.

His remarks came at a joint press conference with Russian Ambassador to Yerevan Sergey Kopyrkin on Monday.

The possibility of extending the term was discussed, the minister said adding that the mutual agreement has been reached.

According to him, this issue will be discussed at the next meeting of the Armenian government.

The project to extend the life of the 2nd power unit of the Armenian NPP is linked to the restoration of the resource and extension of the station up to 10 years, as well as improving the level of safety and efficiency. The Russian government has allocated a state export credit for $ 270 million and a grant for $ 30 million in this regard. A total of 200 million of the loan has already been used.