DHAKA: Rusatom Overseas, a subsidiary of Russia’s state nuclear energy corporation – Rosatom and Finnish nuclear power consortium - Fennovoima have signed a number of contracts on December 21, 2013 in Helsinki, pertaining to set up of a nuclear power plant in northern part of Finland.

Under the contracts Rusatom Overseas will build Hanhikivi-1 NPP of 1,200 MW capacity in Pyhajoki of Finland.

Russian pressurized water reactor AES 2006 to be used in construction of the plant. The plant is expected to produce electricity in 2024 and will secure cheap energy for the owners of Fennovoima.

Rusatom Overseas will join the Fennovoima consortium as one of the shareholders with 34% of share. Another subsidiary of Rosatom will supply nuclear fuel for the Hanhikivi-1 NPP, under a separate contract.

Kirill Komarov, Deputy Director General of Rosatom termed the signing of agreement as a testament to high level of Russian nuclear power technology and expression of confidence on Russian nuclear power companies. “We are capable of implementing the largest project with limited resources and within strict time frame”, he said.

As of today Russia has the biggest port folio of over 74 billion US dollar of foreign orders in the nuclear power sector. Foreign orders include construction of 20 nuclear power units in various countries including Bangladesh, nuclear fuel, enriched uranium supply and other services.

Fennovoima is owned by a large group of Finnish companies in need of their own electricity supply. Fennovoima is a Mankala company, a form of cooperative producing electricity for its owners’ needs at production cost in proportion to their ownership share.

BDST: 2120 HRS, DEC 24, 2013
Edited by: M. Mahbub Alam, Asst Output Editor
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