Industry and Energy

Industry and Energy

Russia and Turkey agree on nuclear power plant construction

14 January 2010 08:19 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. Russia and Turkey have signed a joint statement here Wednesday on the construction of a nuclear power plant on Turkish soil, Globaltimes reported.
The document was signed by Russian Deputy Prime Minister Igor Sechin in charge of energy and fuel affairs, and his Turkish counterpart Taner Yildiz, after talks between Russian Prime Minister Vladimir Putin and his visiting Turkish counterpart Recep Erdogan.
Erdogan said preparations for the signing of a formal agreement were currently under way in Turkey, while Putin said talks on the construction of the nuclear power plant would continue, and the two countries "naturally count on its positive completion."
Putin also said Russia had "significant advantages" for implementing the project.
"We provide loans and equipment, and we give local construction companies ... a share of 20-25 percent or even 30 percent in the entire volume of contracts," he said, "We provide nuclear fuel and are ready to take back spent nuclear fuel for reprocessing."
The Russian-Turkish consortium created by Atomstroiexport, Inter RAO UES and Park Technic will implement the construction of the nuclear power plant that consists of four units with a combined capacity of about five gigawatts, news agencies reported.
The first unit was scheduled to be cast in 2011. The site will probably locate in the town of Akkuyu near the Mediterranean city of Mersin.
The project is estimated to cost between 18 and 20 billion US dollars.