Czech engineering company ALTA Invest and Russia’s TVEL Fuel Company have set up a European Union fuel joint venture. The JV company aims to localise fuel-related services for Czech and European nuclear power plants, and promote TVEL fuel types designed for Western reactors.

The centre will facilitate the scientific and technical support to NPP operation, reload design, safety evaluation and licensing documents for nuclear power plants, core operation monitoring and follow-up evaluation, development and upgrades of specialized computer codes and the overall evaluation of Russian fuel performance.

“The Czech Republic has been chosen for implementation of this project because it operates in the nuclear community a reputable fleet of PWR reactors of original Russian design in Europe, and expresses its firm commitment to continue in the development of nuclear power and electricity generation for the sake of economic stability and prosperity of the whole country and its people”, said TVEL president Yury Olenin.

The majority package of the shares in joint venture will be controlled by the Czech company ALTA Invest. The company will begin its activities starting January 2012. ALVEL will be registered in the Czech Republic.

ALTA specialises particularly in EPC contracts in former Russian states, and is the owner of Skoda Machine Tool.

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