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United RUSAL to Build Nuclear Plant, Aluminum Smelter in Far East
Federal Atomic Energy Agency (or Rosatom) and United Russian Aluminum (or United RUSAL) inked a memorandum Monday to construct energy and metal facilities in the Far East. The matter at stake is building an aluminum smelter of around 600,000 tons annual capacity and a nuclear plant of roughly 2,000 MW. In Russia, it is the first project of private and government cooperation in nuclear energy and the risks of agreement’s breakup are very high.
United RUSAL and Rosatom announced yesterday they sealed an investment memorandum to construct a nuclear plant and aluminum smelter in the Far East. The potential partners agreed that a working group will elaborate feasibility study for the project till the end of 2007.
The construction site will be chosen by this year-end as well, according to RUSAL representative Vera Kurochkina. The company intends to build a smelter capable of producing more than 600,000 tons of primary aluminum a year.
The capacity of nuclear plant is estimated at roughly 2,000 MW and Primorie is one of the most probable regions for the site, a source with Rosatom specified on condition of anonymity
Of interest is that RUSAL won’t confine to co-investing. The source familiar with negotiations said the holder of 66 percent in RUSAL, Oleg Deripaska, offered to energy officials to construct facilities for producing special steel and components for Rosatom projects of nuclear plants.
The current laws of Russia prevent RUSAL from emerging as a co-owner of the new nuclear plant - all nuclear plants are in federal property here. But the agreement spells out joint work of the partners targeted at amending the legislation and enabling metal makers to co-own a nuclear plant.
www.kommersant.com
All the Article in Russian as of Apr. 10, 2007
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