MOSCOW (Sputnik) — The intergovernmental agreement on cooperation on the construction of NPP in China was signed on December 18, 1992. According to the Russian Finance Ministry, the total loan amounted to $2.5 billion and the used funds totaled $1.3 billion.
"The Russian Ministry of Finance informs on receipt of the People's Republic of China payment in the amount of $624.3 million as the repayment of the loan issued in late 1992 in accordance with the agreement between the Government of the Russian Federation and the Government of the People's Republic of China on cooperation on the construction of nuclear power plant in China and on Russian state loan for it to China," the ministry said in a statement published on its website.
"However, given that this mechanism did not meet the financial interests of the Russian Federation, as well as the sharply increased financial capabilities of China, the parties reached an agreement in 2010 on the transition to the monetary form of debt repayment, involving the use of the US dollar as the calculation unit. China has on time and completely fulfilled its obligations under the agreement. Last payment was expected to be implemented in June 2022," the Ministry said.
The Tianwan NPP is considered to be the safest in the world by the International Atomic Energy Agency (IAEA). It was constructed using Russian nuclear power equipment and state service export firm Atomstroyexport.
Two power plant units started operating in 2007. The third and fourth power units are under construction and their commissioning is planned for 2018.
