Tuesday, 13 September 2011

Ukraine, Russia set up nuclear fuel production plant

Ukraine's Nuclear Fuel state concern and Russian nuclear fuel maker OSJC TVEL have set up the private joint-stock company Nuclear Fuel Production Plant, which will be located in Kirovohrad region, the Ukrainian state concern's press service reported on Tuesday.

According to the press service, at a meeting on September 9, the founders of the plant signed a protocol and the founders' agreement about the establishment of the enterprise.

The enterprise will be located at the industrial site not far from the Smolinska mine in the village of Smoline, Mala Vys district, Kirovograd region, the report reads.

The participants of the meeting of the project management group were Ukraine's Nuclear Fuel state concern and the Ukrainian Scientific Research and Design Institute, and Russia's Rosatom State Nuclear Energy Corporation, OSJC TVEL and JSC State Specialized Design Institute.

As reported, in September 2010, the Ukrainian cabinet approved the results of a tender to build a nuclear fuel production plant, which was won by Russia's OSJC TVEL.

TVEL and Nuclear Fuel state concern signed an agreement on this plant's construction in October 2010.

The terms of the signed agreement say that Ukraine is to gain a controlling stake (50% plus one share) in the future plant and obtain fuel-making technology before 2020.

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