Yerevan/Mediamax/. Armenian President Serzh Sargsian participated in the solemn launch of the combined cycle thermal gas power plant at Yerevan Thermal Power Plant.

Mediamax reports that the Minister of Energy and Natural Resources of Armenia Armen Movsisyan stated at the ceremony that the new power plant is of exceptional economic, energy and social importance for Armenia. According to him, due to cooperation with the government of Japan, the best power plant in Eastern Europe, Central Asia and the South Caucasus has been built in Armenia.

Armen Movsisyan reminded that in order to realize the program, there was a loan agreement at the sum of $26 409mln signed between the government of Armenia and the Japan Bank for International Cooperation. Later on an agreement was signed on providing additional loan means. All in all, $240-250mln will be directed at realizing the project.

According to the Minister, the established total capacity of the power plant will make 271.7Megawatt, and the established electric capacity – 242 Megawatt.

Armen Movsisyan informed that in order to produce 1 kilowatt per hour, the new power plant will use 2-2.3 times less fuel (natural gas), than the thermal power plants currently operated in Armenia, and this will allow maintaining the current tariff for electricity irrespective of the price for the imported natural gas.

Construction of the new power plant was realized by the consortium of Mitsui&Co (Japan) and LTD GS Engineering&Construction (Korea) companies.