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Blow to Russia’s nuclear marketing ambitions – other investors back out of Turkey nuclear build

Bellona 12th Feb 2018, In a major blow to one of Russia’s most ambitious international nuclear
deals, three investors backed out of the Akkuyu Nuclear Power Plant,
leaving Russian state nuclear corporation Rosatom adrift on how to finish
the $20 billion station.

Russian President Vladimir Putin touted progress
on the plant as recently as November during a state visit to the Turkish
capital, and the Kremlin propaganda news network RT pushed the narrative
that the plant’s first reactor would be finished ahead of its scheduled
2023 launch date.

That was all thrown into doubt last week when a Turkish
consortium, representing 49 percent of the funding for the Akkuyu plant’s
construction, backed out of the deal, citing a failure to agree on a number
of project’s “commercial conditions,” Russian and Turkish news
outlets said. Rosatom is now in talks to secure other investors, but the
corporation wont’ say by how long the loss of half the project’s
financing will delay the station’s launch, or by how much the project’s
price tag is likely to increase as a result of the back out.



February 14, 2018 - Posted by | marketing, Russia, Turkey

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