Mikhail Stiskin, analyst of Troika-Dialogue company

— Atomprom will become an equal to nuclear giants like Areva or Toshiba-Westinghouse

The analyst of the Troika-Dialogue company Mikhail Stiskin believes that 2006 will go down into the history of Russia’s nuclear power sector as the year of  large-scale government activity for consolidating nuclear power assets.

The President and the Government have taken a number of important steps for creating one of the biggest nuclear companies in the world — a company whose code name is Atomprom. This company will be an equal to such vertically integrated nuclear giants as Areva or Toshiba-Westinghouse. The authorities have taken relevant steps for consolidating the country’s nuclear facilities. First of all, they have set up a Uranium Mining Company, a structure embracing all uranium assets. Besides, Energomash has bought some non-state machine building facilities — the assets of M-Alliance and the United Machine-Building Plants.

Stiskin says that the year 2006 was also remarkable for the Government’s decision to invest $55bln in the nuclear power industry by 2015: $25bln will be allocated from the budget, while the rest will be borrowed or invested by nuclear companies. Hence, nuclear power engineering will become one of the most invested industries in Russia.

In 2006 the authorities have taken active steps to satisfy our uranium needs. First of all, they have agreed with Kazakhstan on setting up JVs and have started negotiations with other companies for joint uranium extraction and supply, says Stiskin.
“As a matter of principle, the past year was very positive for the nuclear power sector. I think that by mid 2007 a newly formed Russian nuclear holding will become a worthy match to the biggest nuclear companies of the world and will rightfully gain no less than ? of the nuclear power market,» says Stiskin.