YEREVAN, March 6. /TASS/. Functioning of the Armenian nuclear power plant (NPP) until 2046 should be considered from the standpoint of economic feasibility, CEO of the Russian state corporation Rosatom Alexey Likhachev told reporters.

"We know the Armenian leadership, the Armenian nuclear power professionals are considering the issue of [extending the operation of the Armenian NPP] until 2046. Two points are here. First, such opportunity exists theoretically, we are ready to organize such effort if such decision is made. However, further to the technical opportunity, there is a need to talk of economic feasibility," the chief executive said.

Extension of plant operations require huge investments estimated at hundreds of millions of dollars, Likhachev said. "[Investments] are related to an upgrade of security systems, automatic systems, repeated annealing of the reactor pressure vessels for the purpose of maintaining all the characteristics, and with expansion and repair of facilities for storage of the spent nuclear fuel. Both the pools and relevant facilities were designed for a smaller term, so significant capital expenses will be needed, which will increase the electricity cost in their turn during the period of 2036-2046. Even a two-fold electricity price hike is possible if completing the whole scope of the extension work until 2046," he added.