YEREVAN, JULY 12, ARMENPRESS. 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, the PM’s Office told Armenpress.

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.

The PM was reported that 1000-1200 people with an average salary of 250.000-300.000 will be involved in the construction of the power station. 230 jobs will be created during its operation. The new production capacity in the energy system will also be used in regional projects, in particular Armenia-Iran gas electricity exchange program.

Edited and translated by Aneta Harutyunyan