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Federal Atomic Energy Agency Matches Expectations
Finally decided to proceed to the real business, Russia’s Federal Atomic Energy Agency have sealed cooperation memoranda with RUSAL and SUAL. These two metal giants of Russia are promised the access to the relatively cheap energy delivered under fixed long-term contracts and expected to fund construction of nuclear power stations in return.
Under the cooperation memoranda sealed with RUSAL and SUAL on July 28, each company will set up a commission with officials of Federal Atomic Energy Agency to pick out sites for constructing nuclear power stations and aluminum mills, elaborate feasibility studies for the projects, estimate their budgets and determine procedures for investor’s involvement.
Both companies need the sites close to the ports. RUSAL is willing to construct facilities in the Far East, in the Arkhangelsk Region and in the Kola Peninsula. SUAL eyes the Far East.
“The two sites will be divided between two aluminum companies,” said a source with the Federal Atomic Energy Agency, “one of them will go to the Far East to construct Primorie Nuclear Power Station, another will construct in the north.” Each station will cost at least $6 billion to them.
Both RUSAL and SUAL need electric energy to widen production facilities. RUSAL intends to boost aluminum production up to 5 million tons a year, while SUAL wants to construct facilities of a million ton.
The difficulty is that the companies will be hardly able to get down to the nuclear station projects before 2010. The Agency’s investment program has been shaped for three years already and there are some legislative restrictions.
www.kommersant.com
All the Article in Russian as of Aug. 10, 2006
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