Atomenergoprom to be set up in June-July

06.04.2007 // Interfax

Atomenergoprom, a holding that will unite the civil enterprises of Russia’s nuclear power industry, will be set up June-July 2007

“We hope that the relevant decree will be issued as early as next month. The registration usually takes 2–3 months, so, the holding will be set up in June-July,” the head of Rosatom Sergey Kiriyenko told Japanese journalists on the eve of his visit to Japan.

He pointed out that only an integrated structure like Atomenergoprom can enhance the transparency and competitiveness of Russia’s nuclear power industry.

The head company will fully belong to the state, but its “daughters” and “grand-daughters” can have private investors. “For example, private investors may well be involved in uranium extraction,” Kiriyenko said. Foreign investors are welcome in the machine building industry. The first example of such cooperation is the Atomenergomash-Alstom low-speed turbine JV.

The basic companies of Russia’s nuclear power industry are TVEL (uranium extraction and fuel production), Techsnabexport (uranium extraction and enrichment, export of nuclear materials), Rosenergoatom (NPP operation) and Atomstroyexport (NPP construction abroad) as well as Atomenergomash (TVEL’s daughter company set up for consolidating nuclear machine building plants) and Uranium Mining Company (set up by TVEL and Techsnabexport for consolidating uranium extracting assets).

Techsnabexport and TVEL are 100% state-owned companies; Rosenergoatom will be corporized before being incorporated into Atomenergoprom but will also remain in the hands of the state; in Atomstroyexport Rosatom controls over 50% through its affiliated structures,

The bill on the reformation of Russia’s nuclear power industry was adopted in early 2007.