China to finance Russian floating NPP’s construction

Publish date: August 1, 2003

China is ready to give a $150m loan to Russia with 5 to 6% interest for 15 years to construct floating nuclear power plant.

ExImbank in China can grant a credit against security of the Russian Finance ministry or expected revenues of the operating floating NPP in the future. Russia will get 5 years postponement, which is necessary for the NPP’s construction. Operating floating NPP is the necessary condition for signing the contract for the future deliveries of the floating NPPs to China. The first floating NPP in the world is based on the floating power unit with KLT-40C type reactors. Such reactors can work without fuel reloading for 4 years. Electricity generation capacity of the floating power unit is 77 MW, heating capacity is 84 Gcal/h, and if necessary it is capable to desalinate 240 thousand cubic meters of sea-water. The project should be implemented at the Sevmash plant in Severodvinsk in Archangelsk region, where the nuclear submarines are constructed. The plant should be put in operation in 2008. Prominent Russian environmentalist Alexey Yablokov believes the sale of floating nuclear power units abroad raises the risk of international nuclear terrorism as the units use highly enriched uranium, which can be used for creation of nuclear bomb.