- Sputnik International
The latest news and stories from Russia. Stay tuned for updates and breaking news on defense, politics, economy and more.

Putin orders govt. to establish nuclear energy co. by July 1

MOSCOW, April 27 (RIA Novosti) - President Putin has ordered the government to set up a nuclear energy corporation by July 1, 2007 and transfer the stock of the industry's enterprises to its charter capital, a presidential decree said Friday.

It said the new joint-stock company, designed to run the country's nuclear power industry, will be entirely controlled by the state.

Putin signed a decree to restructure Russia's nuclear energy industry earlier today, the presidential press secretary said.

A source in the Federal Agency for Nuclear Power (Rosatom) said previously a government corporation to run the industry (Atomenergoprom) will be created by January 2008.

Rosatom said earlier Atomenergoprom, which will be wholly controlled by the government, will be a full-cycle corporation engaged in activities ranging from uranium extraction, fuel production and electric power generation, to the construction of nuclear power plants, both at home and abroad.

The new body will exercise centralized control over the civilian nuclear power sector following the merger of four existing nuclear power "dinosaurs" - TVEL, Techsnabexport, Rosenergoatom and Atomstroyexport.

It also said Russia could expand its uranium ore production and become third in the world in terms of identified uranium ore reserves in the future.

In his annual state of the nation address to parliament Thursday, Putin said power generation is a high priority for the Russian economy, in which 12 trillion rubles ($467.1 billion) will be invested by 2020.

"A major structural reform will be implemented - in effect, the country's second comprehensive electrification," he said. "Power generation in Russia is to grow 66% by 2020."

The president said that new power plants would be built, existing ones modernized and the power grid expanded and diversified.

He said nuclear power would remain a priority, and proposed the establishment of a corporation to streamline the nuclear industry.

"Thirty nuclear power plants were built in the country during the Soviet period. And we need to build another 26, based on the latest technology," Putin. "I propose setting up a corporation to integrate nuclear power enterprises operating on domestic and foreign markets."

Commenting on the president's remarks, Rosatom Director Sergei Kiriyenko said the corporation would be designed to ensure the effective and efficient operation of the nuclear power sector.

To participate in the discussion
log in or register
Заголовок открываемого материала