TURKEY AND IRAN TO CONSUME ARMENIAN POWER

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MOSCOW, February 22 (RIA Novosti) - The Russian UES (United Energy Systems) Company plans electricity supplies to Turkey and Iran, UES chairman of the board Anatoli Chubais has said.

"We are thinking of expanding the export of Armenian generating capacity. Today electricity is exported from Armenia to Georgia and we are thinking of a more complex arrangement of Armenian electricity supply to Turkey and Iran", Mr. Chubais said.

The UES manages a set of generating facilities in Armenia. It keeps in trust management 100 percent of the Armenian nuclear power plant. As part of its debt repayment for the Russian nuclear fuel, the UES has received the property set of the Sevan-Razdan cascade and manages the Razdan heat and power plant.

According to Mr. Chubais, the UES priority project in Armenia is the fifth unit of the Razdan facility. He has called "realization of the Razdan agreements concluded with the Armenian government" as the target goal on the fifth unit.

The UES investments in building the fifth unit will come up to 120 million euros.

"This project (fifth unit) is linked to the Iranian gas pipeline project, which is of interest to Armenia, power holding and Gazprom. I don't rule out that jointly with Gazprom we'll build up a scheme of participation in the gas pipeline project. If we do, we are ready to make investments", Mr.Chubais noted.

He also confirmed that the UES has received a proposal from the British company Midland Resource Holding Ltd. on selling to the UES a package of assets of the Armenian Electricity Grids, which the British company has in management, of which some news agencies earlier reported.

"I confirm having received the proposal. We are studying it. Whatever decision is taken, it has to be coordinated with the leadership of Armenia at the political level", Mr. Chubais added.

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