Supporting a Czech nuclear power plant project

Supporting a Czech nuclear power plant project

Czech Minister of Industry and Trade Karl Havelczyk has announced that the Czech government is seeking approval from the European Commission to provide financial support to the Czech state-owned energy company C.E.Z to contribute to the financing of the nuclear power plant construction project.

The minister said that the state is ready to provide loans to the company, assuming the approval of the European Commission for the support plan. In the event that the company obtains financing according to commercial principles, it will pay interest between 8 and 10%, while the government will provide it at a much lower interest.

Czech Prime Minister Andre Papes announced that his country plans to finance the construction of a new nuclear reactor with a government loan.

The cost of the new plant, which will be built on the site of the current nuclear power station Dokovani, is estimated at 6 billion euros ($ 6.63 billion), and the state will provide 70% of it as a loan at an affordable interest rate.

The government now expects the framework agreement with the company, which is partially owned by the state, to be ready for signature by the end of June.

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Aasem Abuzeid

Aasem Abuzeid is the Director for MENA Region. Aasem acts as a leading marketer in the Arabic speaking countries. He is also the administrator and developer of NBN.Media.