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Russia sells 49 percent stake in Akkuyu nuclear project to Turkish companies

Russia’s Rosatom sells 49 percent stake in Akkuyu nuclear project to Turkish companies, Hurriyet Daily News, 19 June 17 MOSCOWRussia’s state-owned nuclear energy conglomerate Rosatom agreed to sell a 49 percent stake in a giant nuclear project in southern Turkey to Turkish investors in a preliminary agreement on June 19 on the sidelines of a nuclear conference in Moscow.

The stake in the Akkuyu project was sold for an undisclosed sum to the three Turkish companies Cengiz, Kolin and Kalyon, dubbed CKK as a consortium, which are quite active in construction and energy sectors. Each of these companies will have an equal stake.

The shareholders’ agreement will be signed by the end of the year, the consortium said in a follow-up press release. The sum of the deal is then expected to be revealed, according to the press release.

Turkey and Russia signed an intergovernmental agreement to build and operate a nuclear power plant in the southern province of Mersin’s Akkuyu in 2010. According to the agreement, Russian companies would own a minimum of 51 percent of stake in the nuclear power plant, marking a first in Turkey.

The respective parties are planning to start construction this year. ……http://www.hurriyetdailynews.com/russia-sells-stake-in-akkuyu-nuclear-plant-project-in-turkey—–.aspx?pageID=238&nID=114520&NewsCatID=348

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June 21, 2017 - Posted by | politics international, Russia, Turkey

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