Russia opens door to foreign investment in its nuclear power sector

Publish date: June 25, 2008

Russia's nuclear industry is open to both domestic and foreign investors, Russian Deputy Prime Minister Sergei Ivanov told an international nuclear forum on Wednesday, insisting that nuclear powers is both “unlimited” guaranteed to be safe by modern technology.

"In addition to large-scale investment of state funds, we have grounds to count on substantial private investment. The Russian nuclear sector is now open to cooperation. Furthermore, not only with domestic businesses, but also with foreign investors," Ivanov told an international forum, ATOMCON-2008.

He said construction of nuclear power plants was one of Moscow’s priorities for the energy sphere, adding that Russia plans to build 26 new NPPs by 2020.

"The peaceful uses of atomic energy are virtually unlimited, while modern technology guarantees its safety," he said, RIA Novosti quoted him as saying.

Ivanov said that Russia "is ready to expand cooperation with foreign partners in the supply of materials and the provision of services related to the nuclear fuel cycle."

Addressing the forum, Sergei Kiriyenko, director of the Russian sate nuclear corporation Rosatom, said Russia is ready to invest in NPP projects abroad.

"We are ready to invest in the construction of nuclear power plants abroad, share risks and sell electricity," he said.