Russia invests US$1.39 bln for Turkey’s nuclear plant

ANKARA — Russia's state run nuclear company Rosatom's subsidiary in Turkey 'Akkuyu NGS' started to receive investments.

Akkuyu NPP project is to receive US$1.39 billion dollars from Russia for the construction of nuclear power plant in the first quarter of 2014.

According to Rosatom officials, once the environmental evaluation report (CED) is approved, ground preparations and infrastructural investments will speed up in the construction of Turkey's first nuclear plant.

The Akkuyu NPP project is estimated to cost around US$20 billion and total of US$3.5 billion worth of equipment is expected to be used in the construction process, of which US$1.8 billion will be spent this year alone.

If the project license is approved, the reactor construction is estimated to begin in 2016, and to be operational by 2020 with the entire plant being fully operational by 2023.

The Russian energy company Rosatom signed an agreement in 2011 to build and operate a four reactor nuclear power plant in Mersin province on Turkey's Mediterranean coast, with the aim of having the plant fully-operational by the Turkish republic's 100-year anniversary in 2023.