The government has approved the direct contract in accordance with the framework agreement signed between the government, ArmPower CJSC and RENCO S.p.A. (Italy).
The contract will allow the constructer to launch the process of building and operating a new 250 MW gas-fueled combined cycle electricity station in Yerevan.
The construction of the station is expected to begin after a financial summary, which will take place within two months.
$250 million will be invested for the implementation of the program.
The construction will last for 26 months and will involve 1000-1200 people.
Nearly 200-230 jobs with high salaries will be created during the operation of the plant, with 50-70 of them passing a respective training and qualification in the German Siemens during the construction of the plant. (Armenpress/Business World Magazine)