Ukrainian govt approves feasibility study for $465-mln nuclear fuel plant
KYIV. July 11. (Interfax) - The Ukrainian Cabinet of Ministers has issued a government resolution approving a feasibility study to build a nuclear fuel fabrication plant.
According to the document, the construction of the facility will be split up into two phases: 2012-2015 and 2016-2020. The estimated cost of building the plant is UAH 2.362 billion, including UAH 1.532 billion for the first phase and UAH 830.55 million for the second.
Spending to acquire nuclear fuel production technologies will total UAH 1.112 billion, and the costs of developing city infrastructure will come to UAH 225.747 million.
Therefore, the overall cost of the project will reach UAH 3.7 billion, or about $465 million.
For construction, 6.8 hectares of land will be allocated near the town of Smolino in the Kirovohrad region. The plant will have a capacity of 800 fuel assemblies a year. According to the feasibility study, 377 people will be employed at the facility, which will operate for 50 years.
In September 2010, the Ukrainian government approved the results of a tender giving Russian nuclear fuel company OJSC TVEL the right to select technologies for building a nuclear fuel fabrication plant. The construction agreement was signed in October 2010. Last year, the procedure of registering a Russian-Ukrainian joint venture to erect the plant - CJSC Nuclear Fuel Fabrication Plant - was completed. Ukrainian state-owned company Nuclear Fuel owns 50% plus one share in the joint venture, and TVEL owns 50% minus one share.
Seventy percent of the financing for construction will be in the form of loans, and 30% will come from the Ukrainian and Russian shareholders.
The official exchange rate on July 11 was UAH 7.993/$1.
