Four reactors for Russia

29 November 2000

Russia’s atomic energy minister Yevgeny Adamov says the government would finance efforts to complete four new nuclear units over the next five years. He said it will invest $1.9 billion by the end of 2005 to finish work on two reactors at Rostov, one at Kaliningrad, and one at Kursk. The Russian government has said it plans to spend a total of $25 billion by 2030 to boost production in the nuclear plant sector.

Adamov said financing could come from more than one source. If the Federal Energy Commission approves a request to raise tariffs for nuclear-generated energy by $0.01/kWh, this would bring in $1.3 billion a year. In addition, contracts for nuclear engineering work in Iran, India and China could bring in another $10 billion over the next 10 years. If the parliament amends laws to allow the import of certain nuclear materials, Russia could earn $20 billion by reprocessing spent nuclear fuel.

Adamov said the aim was to boost the share of nuclear-generated electricity in Russia from 15% to 33% by 2030.

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