Studsvik signs new agreement with TVEL

7 January 2021

The Studsvik Site (credit: Studsvik)Sweden’s Studsvik announced on 4 January that its Fuel and Materials Technology business area had signed a contract with Russian fuel company TVEL (part of Rosatom) worth approximately SEK100 million ($12m).

“The agreement further strengthens the business area’s position on the Russian market,” it said. “Fuel and Materials Technology have been working with Russia for many years and the last years the cooperation has increased. The agreement creates a foundation for long-term business relations and strategic partnership. The services will be carried out the coming two years and will give improved capacity utilisation in the business area.”

Studsvik has world-leading laboratories designed for treatment and examination of irradiated reactor material and nuclear fuel, as well as many years' experience of international transports. "Russia is an important country in the nuclear industry with a long track record of developing new technologies for both domestic and export markets. This contract is of great importance to us. We appreciate the trust and will continue to develop our relations and business in Russia" said Joakim Lundström, Business Area President Fuel and Materials Technology.

In 2018, Sweden-based Studsvik Scandpower, signed two contracts with TVEL totalling SEK 38 million. The first contract signed in February and valued at SEK25 million was for the delivery by Studsvik of software licences and fuel licensing methodology. Software maintenance, consultancy, and training services were provided under a March contract, worth SEK13 million.

Photo: The Studsvik site in Sweden

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