Tuesday, 17 October 2017 08:29 GMT
img

Turkey, Russia establishing consortium for building Akkuyu plant

(MENAFN - Trend News Agency ) Baku, Azerbaijan, Sept. 18

By Rufiz Hafizoglu – Trend:

Turkey and Russia are establishing a consortium for the construction of Turkey's first Akkuyu nuclear power plant upon the Russian project, the Turkish media reported Sept. 18.

The construction of the nuclear power plant will be launched in March 2018.

The Akkuyu nuclear power plant is the first nuclear power plant project in the world, being implemented upon the BOO ("build-own-operate") model.

Moreover, the Akkuyu nuclear power plant project includes the construction of four power units with Russia's Gen III+ VVER reactors. The capacity of each power unit of the nuclear power plant will be 1,200 MW.

Earlier, it was reported that Russia's investments in the project will reach $22 billion. The Turkish side expects the first nuclear power plant to be commissioned in 2023.

Rosatom State Atomic Energy Corporation signed an agreement on the main conditions for the Turkish energy companies Cengiz Holding, Kolin Insaat and Kalyon Insaat to join the shareholders of the Akkuyu Nuclear JSC, which is implementing the Akkuyu nuclear power plant project.

The agreement was signed at the 9th international forum Atomexpo-2017 in Moscow in June 2017.

The Turkish consortium claims 49 percent in Akkuyu Nuclear company. The amount of the possible transaction has not been disclosed. But it will be the biggest investment of foreign companies into Russian projects being implemented outside the country and the world's biggest private investment in nuclear energy sector over the past 17 years.

---

Follow the author on Twitter:

MENAFN1809201701870000ID1095871559


Turkey, Russia establishing consortium for building Akkuyu plant