The construction of the new storage for the processed fuel for the Armenian Nuclear Power Plant will cost 10 million Euros, Armenian Energy Minister Armen Movsesian stated in parliament, RosBusinessConsulting reports. In his words, the construction of the new storage has been planned taking into account the exploitation term of the Armenian NPP till the end of 2016. The Minister informed that annually 90 cassettes with the processed fuel will go into the storage and by the end of 2016 there will be 1872 cassettes in total. The building process will be stepwise and the storage is supposed to consist of 3 constructions. The first part of the complex is to be finished in 2007, the second one - in 2012 and the third one - in 2018. The exploitation term will make 50 years. To note, the first ever storage intended for 616 cassettes of processed nuclear fuel was put into operation in 2000. The expenses (about $6 million) were covered with the funds provided by the French government.