Rosatom wins project in north-central Russian republic

3 March 2009

Rosatom State Nuclear Energy Corporation (Rosatom) and the government of Russian republic Yakutia have signed an agreement for executing investment projects to develop the Elkon uranium area. As per the agreement, Rosatom will construct a uranium mining and processing combine in Yakutia and build four floating nuclear power plants (NPP) for supplying the northern regions of the republic with heat and electricity.

When set at full capacity, the combine is supposed to produce one fourth of uranium consumed by Russia’s nuclear industry and to create almost 12,000 jobs.

The project will be partially financed by the Investment Fund of the Russian Federation and implemented by specially established Southern Yakutia Development Corporation.

The prospected uranium reserves of Yakutia are expected at 319,000 tons or 6% of the world’s reserves. A total of RUR90.5 billion is supposed to be invested in the project. The full capacity, 5,000 tons annually, will be attained by 2024.

The parties are in preparation to attract private investors, including foreign ones.

The first floating NPP with KLT-40S reactor is supposed to be constructed by May 2010.

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