Turkey forcing Russia to sell stake in NPP construction project

Turkey is pushing Russia`s state nuclear corporation Rosatom to share its stake in the construction of the Akkuyu nuclear power plant (NPP), Gazeta.ru has reported

Turkish business is ready to buy 49% of the shares at a low price. If Russia does not agree, the Turkish authorities say they will accelerate the construction of other nuclear power projects – with the American or Japanese partners.

Turkish Bloomberg service and Anadolu agency reported referring to its sources that Rosatom was in talks to sell a 49% stake in the project of the Akkuyu NPP on the Mediterranean coast. According to agency reports, Rosatom has decided to sell nearly half of its stake due to the economic crisis in Russia. The Turkish company Cengiz Insaat expressed its interest in the construction of an NPP. Previously, it won the tender for the construction of infrastructure for nuclear power plant – the construction of the dam, water intake, port, etc.

Rosatom first declined to comment, but later the head of the state corporation Sergey Kiriyenko said that he had no new information on the Akkuyu project. ”I do not want to comment on rumors,” he said.

His emotional response indicates that the Akkuyu project, which seemed to be absolutely reliable at the stage of a conclusion of the contract in 2010, is now in question. And the reason is not the economic crisis in Russia.

The money for the project, estimated at $22 billion, is in the National Welfare Fund. The first tranche of $3 billion is reserved; part of these funds, about $400 million, has already been allocated and has already been spent.

However, both Russia and Turkey say they are ready to implement an ambitious project not later than 2023, by the centennial of the Turkish Republic.

Turkish opposition calls enslaving the conditions of a nuclear power plant construction. First of all, they are irritated with the intergovernmental agreement providing for the fixed price of generated electricity at 12.35 cents per kW/h for a period of 25 years. The Turks consider it overpriced.

Meanwhile, Turkey is very interested in developing nuclear energy. Turkey is the world`s second state in terms of growth of energy consumption, with only China ahead.

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