Russia nuclear firm sees export market potential
Russian nuclear holding firm Rosatom wants to build 30 nuclear reactors abroad after securing deals in India, Turkey and Vietnam last year, CEO Sergei Kiriyenko said on Tuesday.
January 12, 2011 / 12:46 IST
Russian nuclear holding firm Rosatom wants to build 30 nuclear reactors abroad after securing deals in India, Turkey and Vietnam last year, CEO Sergei Kiriyenko said on Tuesday.
"We estimate the potential market for us at 28 reactors inside the country and another 30 abroad," Kiriyenko told President Dmitry Medvedev during a meeting in the Kremlin.Russia retains a competitive edge in the nuclear power industry and Medvedev has made the sector's development one of the priorities in his drive to modernise the economy.Kiriyenko said he saw export orders for the giant corporation, which controls all aspects of nuclear power in Russia from uranium mining to reactor construction, rising 50% to USD 30 billion in 2011.Russia signed a deal with Turkey in May 2010 to build the country's first nuclear power plant and plans to build 18 reactors in India.Many emerging economies are seeking to meet their growing energy needs without increasing their dependency on hydrocarbons.Russia has built and is supplying the fuel for Iran's only nuclear power plant, Bushehr, which is due start generating electricity in the coming months.Kiriyenko told Medvedev that under the contract with Turkey Rosatom will for the first time own a nuclear power station on the territory of another country."This is a truly unique contract. It means that we have come to Turkey for 100 years to come because it includes construction, 60 to70 years of operations, fuel supplies," Kiriyenko said.Kiriyenko said a number of other countries were interested in similar contracts with Rosatom but did not provide any details.He said Rosatom profits rose 50% to 60 billion roubles (USD 1.96 billion) in 2010 while power output rose by over 4%. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
