Talks about situation over Bushehr NPP will be continued next week

09.03.2007 // Press service of Atomstroyexport

On Mar 9 2007 Atomstroyexport completed its negotiations with representatives of the Atomic Energy Organization of Iran

The objective of the talks was to discuss the situation following the Iranian side’s failure to finance the construction of Bushehr NPP since mid Jan 2007.

During the talks the representatives of Atomstroyexport informed the owner of the project about the delay in the schedule caused by insufficient financing. They noted that the earlier reported progress in the project has now been almost stopped. Unless the Iranian side takes urgent measures to resume the financing, the delay will continue to grow.

The representatives of Atomstroyexport also informed the owner that the company has not been financing the construction since Sept 2006, which means that the payments of the Iranian side are the only financial source of the project. This term was stipulated in the package of agreements when Atomstroyexport and AEOI signed the additional agreement on new terms of the project in Sept 26 2006.

The Iranian side informed Atomstroyexport of the causes of the delay. They said that they were contrary to the sides’ will and expressed commitment to resume the payments next week. The sides also discussed the owner’s proposals for ensuring stable and guaranteed financing till the physical launch of the project. The sides failed to pass final decisions on this problem and agreed to resume the talks in Iran next week.

Note:

Atomstroyexport is building the 1st unit of Bushehr NPP in line with the contract dated Aug 29 1998 concluded under the Aug 25 1992 Russian-Iranian governmental agreement on cooperation in building NPP in the territory of Iran.