Looking for cash

Looking for cash

Alexander Novak, Russian Energy Minister told in a Press conference on April 6ththat Rosatom already invested 3 Billion USD in the construction of Akkuyu nuclear power plant. This cash was used for the implementation of the project. Rosatom needs cash for Akkuyu, and the Russian side is conducting commercial negotiations with potential investors. Turkish state energy company EUAS ICC could become a new partner of Rosatom in this project. However, it is ready to buy only 5% of the project.
The Russian nuclear corporation prefers Turkish partners, in particular, companies with state participation, but the door is open to private investors. The Turkish welfare fund could be invested in the project of Rosatom – a governmental organization established in the summer of 2016 that is investing in strategic projects. Negotiations are also continuing with Cengiz on entering the construction of a nuclear power plant in Turkey.

Minister Novak guaranteed that Akkuyu will be implemented with or without foreign investors.

So far, the Turkish atomic regulator TAEK has not issued a license to Rosatom to build this nuclear power plant, although the state corporation applied for it a year ago. Currently, Rosatom conducts preliminary work on the site of the station in the framework of the limited permission received in October 2017 for the construction of nuclear power plants (without the construction of nuclear facilities).


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Arnaud Lefevre

Arnaud Lefevre is the Chief Executive Officer of Dynatom International. Arnaud is in charge of the international development of the business portfolio.