MOSCOW, June 28 (RIA Novosti) - Construction on the International Thermonuclear Experimental Reactor (ITER) itself is expected to amount to nearly $5 billion, the head of the Russian Federal Atomic Energy Agency (Rosatom) said Tuesday.
"This is a landmark decision, and never in my life have I witnessed such large international concession projects," Rumyantsev said.
The total project is estimated at $13 billion.
Rumyantsev said that it would take some seven years to build the reactor.
"Participation in the ITER project will boost Russia's science and technical development in the industrial sector. Russian physicists will also have ample work to do," Rumyantsov said.
Project members Russia, the EU, Japan, South Korea, the United States and China signed a declaration today, stipulating that the experimental thermonuclear reactor is to be built on the Cadarache platform in France.
In accordance with the joint declaration, France is required to finance 50% of the ITER construction. The rest participants must contribute 10% each.
The signatory countries should sign an agreement on funding and a construction timeframe by year's end.