Russia and Armenia create nuclear island

The Armenian Ministry of Energy and Natural Resources and the Russian state corporation on nuclear energy have signed an agreement to create a special nuclear island. This will involve constructing a nuclear power plant which will last 60 years with European standards of security.

A special legal entity has been created to undertake this venture, the Russian-Armenian joint stock company MetzamorenergoAtom. It is open for other investors and has to attract financial resources for the construction. The organisation must draft a special agreement to be signed by the Governments of both countries.