Armenian Government Allocates Over $50 Million for Metsamor Nuclear Power Plant Extension

The Armenian government has earmarked 20.2 billion drams in its 2024 budget for the double extension project of the Metsamor Nuclear Power Plant. This ambitious project aims to extend the plant's lifespan until 2036, ensuring a sustainable source of energy for the country

Minister of Territorial Administration and Infrastructures, Gnel Sanosyan, provided details about the allocation during a parliamentary committee hearing on the 2024 budget. He explained that there are two significant processes associated with the Metsamor Nuclear Power Plant. The first involves an ongoing extension project that began several years ago, for which 7 billion drams ($17,492,524.00) have been allocated in the 2024 budget.

"The purpose of the ongoing project is to extend the nuclear power plant's lifespan until 2036, with the necessary licenses," stated Sanosyan.

Additionally, a new initiative, the double extension project, is set to commence in 2024. This project is critical for ensuring the plant's continued operation and involves substantial investments to enhance its operational capabilities.

"The double extension project's purpose is to further extend the nuclear power plant's lifespan until 2036, with corresponding licenses. To achieve this goal, the Armenian government will allocate 20.2 billion drams ($50,478,426.40) in the next fiscal year," Sanosyan elaborated.

The Metsamor Nuclear Power Plant plays a crucial role in Armenia's energy sector, providing a significant portion of the country's electricity. By investing in these extension projects, Armenia aims to enhance the plant's efficiency, safety, and overall capacity, ensuring a stable and reliable energy supply for the nation.