YEREVAN, NOVEMBER 13, ARMENPRESS. The amended framework agreement on buiding a 250 MW gas-fueled combined cycle electricity station in Yerevan was signed today.

Caretaker minister of energy infrastructures and natural resources Garegin Baghramyan, Renco CEO Giovanni Rubini and Armpower CEO Christian Cucurachi inked the deal.

Caretaker Deputy Prime Minister Tigran Avinyan attended the signing ceremony.

Italian Renco, Italian state-owned Simest and the German Siemens companies are involved in this 250,000,000 dollar worth investment program, the government’s press service said.

The thermal power station will be built within 26 months and the tariff for the produced electricity will be the lowest – 27,4 drams for 1 kilowatt/hour.

Up to 1200 people will be involved in the construction.

Edited and translated by Stepan Kocharyan