News

Russian state nuke power plant builder to go private next year

Publish date: September 25, 2006

The Russian state-owned nuclear power plant building giant Rosenergoatom will be reincorporated as a joint stock company during the first half of 2007, the company’s deputy director Oleg Sarayev told the RIA Novosti newswire on Monday.

Sarayev’s announcement comes three days after Rosenergoatom held negotiations with US Energy giant General Electric on collaboration in the field of nuclear energy, Rosatom, Russia’s nuclear energy agency, reported on its website. General Electric has already built a Moscow-based office to get its foot in the door of Russia’s nuclear industry.

Rosenergoatom runs all 10 of Russia’s nuclear power plants, for a total of 31 reactors.

“By all indications, the (Rosenergoatom) concern will be reincorporated as a joint stock company during the first half of 2007,” Sarayev said, according to RIA Novosti.

“The corporatization will go forward with 100 percent state responsibility.”

It is not clear if the essential privatization of Rosenergoatom will have any effect on its relationship with General Electric.

Meanwhile, deputy Rosatom director Andrei Malyshev – who in 2006 returned to the nuclear agency after a two year stint running Russia’s nuclear oversight service – said that Rosatom had worked up a bill that was sent for review in the Duma on managing property in the nuclear field, RIA Novosti reported.

According to Malyshev, the potential law would regulate commercial activities within the non-military, energy producing and power plant building nuclear sphere.

“This allows us to assure the competitive edge of the Russian nuclear field on the world market,” he said.