Russia’s Rosenergoatom, the state-owned nuclear generator, plans to attract up to $350 million in investment in 2006.

According to comments attributed to the company’s financial director Pavel Romanov, the group is negotiating a loan with Russian savings bank Sberbank and has already reached an agreement with Vneshtorgbank, which would give it about $500 million in several tranches.

The funds are expected to be used for the completion of unit 2 of the Volgodonsk nuclear plant in southern Russia. With the project expected to cost of the order of Rb 36 billion ($1.27 billion), Rb 8 billion ($283 million) of which are from internal funds, the rest will be raised between 2005 and 2008.