Rosatom Plans to Build Finnish Nuclear Plant

Rosatom plans to become the main contractor in a project to build a nuclear power plant in Finland, Russian presidential aide Yury Ushakov told journalists.

Rosatom and Finnish power consortium Fennovoima, which holds a government permit for the construction of a nuclear power plant in PyhКjoki, northwest Finland, are to sign a contract for the NPP construction by the end of 2013.

The companies are also to agree on a detailed project schedule, financing mechanisms and a share for Rosatom of 34 percent.

According to Fennovoima's draft project, the Hanhikivi-1 plant is to start producing electricity in 2024.

The PyhКjoki construction project cost is estimated at 4 billion to 6 billion euros ($5.4 billion to $8 billion), the Finnish consortium said.