Rosatom enterprise and South Africa's Necsa agree to cooperate to produce nuclear fuel

MOSCOW. Aug 2 (Interfax) - TVEL, the fuel division of Rosatom state corporation, and Necsa, South Africa's nuclear energy corporation, have agreed to cooperate to produce nuclear fuel and its components, the Russian company said following the signing of the corresponding memorandum.

"Both companies are aimed at combining existing expertise in the area and further interacting in order to develop the corresponding capabilities," according to the statement.

JSC TVEL consolidates all Russian assets in the area of nuclear fuel production and separation-sublimation complex, as well as manufacturing gas centrifuges and their equipment. JSC Atomenergoprom is TVEL's sole shareholder.

According to the company's website, TVEL "produces more than a third of the enriched uranium products used worldwide," and Techsnabexport delivers the product abroad.

TVEL has a 10-year order book that totals nearly $18.7 billion, growth of 4% from 2021 levels, the company said at the end of 2022.