Russia Transfers First $1Bln to Construct Nuclear Plant in Finland

Russia Transfers First $1Bln to Construct Nuclear Plant in Finland
by Staff Writers
Moscow (Sputnik) Apr 07, 2015

Illustration only.

According to the ministry, the funds were placed in nuclear giant Atomenergoprom, a subsidiary of the Rosatom state corporation, in the amount of 57.5 million preferential shares valued at 1,000 rubles ($17.50) per share.

Finnish nuclear company Fennovoima Ltd and Rusatom Overseas, another subsidiary of Rosatom, signed a contract in 2013 to construct a nuclear power plant in northern Finland.

The facility is set to include a Russian-designed 1,200 megawatt pressurized water reactor.

According to the companies' schedule, Hanhikivi 1 will begin producing electricity in 2024.

Source: Sputnik News

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Bulgaria drops $4bn Westinghouse nuclear deal
Sofia (AFP) April 1, 2015
Bulgaria has dropped a deal with US-based firm Westinghouse Electric to build a new reactor at its only nuclear plant because of financial pressures, Prime Minister Boyko Borisov announced Wednesday. "We cannot uphold the agreement" which is worth $4 billion (3.8 billion euros), Borisov told parliament, adding that the cash-strapped country was unable to shoulder the costs. The hasty dea ... read more

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