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Armenia to transfer power station to Russia for debts

YEREVAN : Armenia’s Razdanskaya power station will be transferred to Russia in September to redeem part of Armenia’s debt, Albert Bagdasaryan, general director of Razdanskaya, told reporters Tuesday.

The station will initially be transferred to the Property Relations Ministry, and later to an unspecified Russian company, he said.

As a result of the transfer, prices for power produced at the station may be lowered, Bagdasaryan added.

Earlier, the Armenian government had said that the station’s transfer to Russia would facilitate power exports to Turkey and other countries in the region. No other details were provided.

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