Tuesday, 26 September 2023 01:06 GMT

Construction of Turkey's first nuclear power plant to start in late 2017

(MENAFN- Trend News Agency ) Baku, Azerbaijan, Oct. 11

By Rufiz Hafizoglu – Trend:

Construction of the Akkuyu Nuclear Power Plant in Turkey will start at the end of 2017, TRT Haber reported citing Minister of Energy and Natural Resources Berat Albayrak.

Presidents of Turkey and Russia are expected to attend a groundbreaking ceremony for the nuclear power plant, according to the minister.

He noted that the Akkuyu plant's construction is scheduled for completion in 2023.

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

Rosatom State Atomic Energy Corporation of Russia 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.

Turkish consortium claims 49 percent in Akkuyu Nuclear JSC. The value of the possible transaction has not been disclosed, but it will be the biggest investment of foreign companies into a Russian project implemented outside the country and the world's biggest private investment in nuclear energy sector over the past 17 years.


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