TVEL sums up preliminary results of 2007

29.12.2007 // PR Directorate of TVEL

According to preliminary information, in 2007 the sales of TVEL OJSC made up 36.9bln RUR

In 2006 the index made up 28.5bln RUR. The net profit made up 5.9bln RUR against 3.2bln RUR in 2006. In 2007 TVEL invested 2.5bln RUR in its production, including 578mln RUR in research and development.

In Oct 2007 TVEK OJSC was incorporated into Atomenergoprom OJSC, a vertically integrated holding established in the framework of the reformation of the nuclear power industry of Russia.

In 2007 TVEL fulfilled all of its obligations under fuel supply contracts and received no remarks concerning the quality of fuel and the time of its delivery.

In May 2007 TVEL signed a contract for supplying fuel pellets to Sizewell Nuclear Power Plant (the United Kingdom) in cooperation with Areva NP. The company supplied fuel to the 1st and 2nd units of Tianwan NPP in China, the first plant built by Russian specialists abroad after the collapse of the USSR. The company made a number of contracts for delivery of low-enriched fuel to research reactors, particularly, for the supply of low-enriched uranium to research reactors in Vietnam, Uzbekistan and Ukraine in the framework of Russian-US RERTR program (Reduced Enrichment for Research and Test Reactors).

In 2007 TVEL continued improving the quality of its fuel. The company designed fuel of third generation, RK-3, for WWER-440 reactors and TVSA-ALFA fuel for improved WWER-1000 reactors.

During the year the company actively cooperated with foreign companies on its own project TVS-Kvadrat for western PWR reactors with a view to enlarge its sales market.

In Jan 2007 TVEL successfully completed the recovery work in the well of the 2nd unit of Paks NPP in Hungary (following an incident in 2003). During the project the company used unique technologies and equipment of Russian design. TVEL took part in the design of new nuclear reactors – WWER-1200 (NPP-2006) and KLT-40 for the world’s first floating NPP.

In 2007 TVEL adopted a complex development program for 2008–2020 aimed at shaping new image, reducing costs, optimizing personnel and production areas, raising the wages, diversifying products, developing non-nuclear innovative productions.