Russia needs $50 billion until 2020 to develop its nuclear industry

Publish date: July 18, 2003

Evgeny Sharov, deputy chief of the planning and development department of the Rosenergoatom concern, stated this at the conference «Perspectives for Atomic Energy Development in Guaranteed Safety Conditions» in St Petersburg in April.

He said that the Russian nuclear industry has to find almost $30 billion investments until 2020 to keep in operation 10 Russian NPPs with 22,000 MW capacity (in the frames of the Russian Energy Strategy). Besides $20 billion is needed to increase energy production rate. When answering to the question about possibility of such huge investments in the state owned atomic energy Mr. Sharov said that «The Concern hopes for the increase of the investment component of the electricity price, credits and other alternatives». He also confirmed the possibility to privatise some electricity related departments of the nuclear plants, while reactors would remain in the state property. Construction and upgrade of the nuclear plants in Russia is also carried out thanks to the investment component in the electricity price, i.e. paid by the electricity consumers.

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