YEREVAN, JULY 12, ARMENPRESS. The construction of a new power station in Yerevan with the capacity of 250 MW is the greatest and strategic project of the Italian Renco S.p.A. in Armenia, Simone Giovannini, Resident Branch Director at Renco S.p.A. for Armenia, told reporters today.

“We are proud of our activities in Armenia. This is our greatest investment in Armenia, although we operate here for already 20 years”, he said, adding that the first works over the project launched back in 2016.

Simone Giovannini said this is not going to be the last project, they also plan to implement more programs in Armenia in next 30-40 years.

Armenian Prime Minister Nikol Pashinyan attended the ceremony of launching the construction of a new power station with the capacity of 250 MW in Yerevan on July 12.

The project is implemented by an Italian RENCO S.p.A.

Within the frames of the project nearly 250 million USD will be invested. Italian Simest and German Siemens, as well as international financial organizations are involved in the investment program. The construction of the plant will last 26 months. The cost of the electricity of the new station will be lower, 27.4 dram for 1 kW/h.

Edited and translated by Aneta Harutyunyan