The amended framework agreement on building a 254 MW gas-fueled combined cycle electricity station in Yerevan was signed. Caretaker minister of energy infrastructures and natural resources Garegin Baghramyan, Renco CEO Giovanni Rubini and Armpower CEO Christian Cucurachi inked the deal. Italian Renco CJSC, Italian state-owned Simest S.P.A. and the German Siemens Project Ventures GmbH companies are involved in this 266,000,000 dollar worth investment program. Up to 500 people will be involved in the construction.