Rosatom to receive 50 bln rubles in subsidies for Akkuyu NPP in 2015

MOSCOW. Sept 25 (Interfax) – Russian State Nuclear Energy Company Rosatom will receive 50.1 billion rubles in state subsidies in 2015 for the construction of the Akkuyu nuclear power plant (NPP) in Turkey, according to a draft of Russia’s 2015 federal budget, which includes plans for 2016 and 2017.

According to the document, subsidies for the construction of NPPs are set at 38 billion rubles each year in 2015-2016, followed by 37 billion rubles in 2017.

The development program for the nuclear energy complex plans for overall 2015 financing of 155.3 billion rubles to develop the state-owned company’s facilities.

As reported, the Russian government gave Rosatom 22.5 billion rubles in subsidies in 2014 for the Akkuyu NPP. There will not be any budgetary allocations for the project in 2016-2017. Rosatom will receive $3 billion from the federal budget to build the NPP in Turkey, in particular over 73 billion rubles in 2014-2015. The money will be invested in Akkuyu NPP’s capital in separate tranches. The cost of building the station is estimated at $22 billion.

The Akkuyu nuclear plant is being built on a BOO (build-own-operate) basis. Rosatom currently has a controlling stake: OJSC Rosenergoatom has 46.87%; CJSC CJSC Rusatom Overseas, a special company dedicated to developing Rosatom’s international business, has 46.4%; CJSC Atomstroyexport – 4.84%; OJSC Atomenergoremont – 0.05% and OJSC Atomtekhenergo – 0.05%. Another 1.6% is owned by Inter RAO UES (MOEX: IRAO).

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