Jordan in talks with Russia on NPP financing

20 August 2017

The Jordan Atomic Energy Commission (JAEC) said in a statement on 16 August that talks were continuing with Russia to secure the best financing solutions to build Jordan’s first NPP. The commission's statement was a response to local reports that the Russian state nuclear corporation Rosatom was looking into withdrawing from the project and that it has already submitted a request to Jordan in this regard. However, JAEC said technical studies related to the project were completed as well as other studies, emphasising that the project will not put any burden on the treasury and that the two countries remained committed to the project to build a 2,000MWe two-unit NPP. The Jordan Times quoted JAEC as saying that Rosatom has been keen on implementing the project since its inception and is involved in the project with all its technical and financial aspects.

Initial signature of an Inter-governmental  Cooperation Agreement on the peaceful uses of nuclear energy between   Jordan and the Russian Federation – was signed in February 2008 followed by a Nuclear Cooperation Agreement in May 2009. In March 2015, Jordan signed an inter-governmental agreement with Russia to build and operate the NPP with Rosatom owning 49% of the project. The first reactor is expected to be operational in 2025. Earlier this year, Jordan and Russia floated tenders to attract bids for supplying turbines and electrical systems for the kingdom's first nuclear power plant. Jordan will secure $1.5bn and Russia will do the same. Construction of the NPP is estimated to cost $10bn and the rest will be financed by banks and funds, local reports said.

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