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. Last Updated: 07/27/2016

Putin Orders Atomic Energy Holding

President Vladimir Putin signed a decree to restructure Russia's atomic energy sector by creating a state-controlled corporation with broad reach throughout the nuclear industry, the Kremlin said.

Russia has ambitious plans for its nuclear industry, and an umbrella company uniting its civilian atomic energy companies has long been in the works.

Putin on Friday ordered the creation of a state-owned holding company that, along with subsidiaries, will be responsible for nuclear industry activities, including research, power plant construction and waste management.

The company will be called Atomic Energy and Industry Complex, or Atomenergoprom, the Kremlin said.

An unidentified official in the Federal Atomic Energy Agency, cited by RIA-Novosti, said Atomenergoprom would absorb some 65 companies, from uranium mines to power plant manufacturers. Putin ordered the government to establish the company by July 1, RIA-Novosti reported.

The country's 31 reactors at 10 nuclear power plants generate 16 percent to 17 percent of electricity.