Armenia refuses 200 million Euro EU loan for shutting atomic plant

September 25, 2007 19:36

Armenia will refuse a €200 million (US$282 million) loan from the European Union to close its only atomic power plant, a government official said Tuesday, reiterating that the country currently has no other major source for electricity. The impoverished former Soviet republic has been under persistent pressure from the EU and others to shut down the aging Soviet-built Medzamor reactor due to safety concerns. Located about 30 kilometers (20 miles) west of the capital Yerevan, the plant was taken out of operation after a devastating 1988 earthquake, but returned to service in 1995 amid a severe energy shortage. It currently supplies nearly 40 percent of the country's power.

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