250 megawatt power plant to be built by Ranco in Armenia
Plant is expected to be built in the capital Yerevan and will be a combined-cycle plant supplied with gas.
Italian company Renco plans to construct a 250-megawatt power plant in Armenia, investing up to USD 300 million in the project, the ex-Soviet country's government said.
The power plant, which is expected to be built in the capital Yerevan, will be a combined-cycle plant supplied with gas, Renco said on its website.
"We are ready to start the project as soon as possible," the government's press service quoted Renco general director Nikol Pashinyan as saying after meeting Armenian Prime Minister Nikol Pashinyan.
PM Pashinyan, for his part, welcomed the implementation of this investment program. “We are interested in the presented project,” he stressed, in particular. Also, he proposed to coordinate the project promotion activities with the relevant departments.
Construction of the plant will create 1,000 jobs and the project is expected to be completed within 25-28 months.
Opposition leader Pashinyan was elected Armenia's prime minister on May 8, capping a peaceful revolution driven by weeks of mass protests against corruption and cronyism in the South Caucasus country.