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On November 13, 2018 The Government of The Republic of Armenia acting on behalf of The Republic of Armenia (as the Government) and Armpower CJSC (as the Developer) and Renco S.P.A (as The Sponsor) signed the amended and restated FRAMEWORK AGREEMENT to Design, Develop, Finance, Construct, Own, Operate and Maintain a 254 MW Gas-Fired Combined Cycle Power Plant in the territory of Yerevan, Republic of Armenia.The construction is due to be completed within 25 months after the start of construction.