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Akkuyu nuclear power plant stake sale deal to be completed in 2019

Türkiye Materials 28 March 2018 17:40 (UTC +04:00)

The deal on sale of the 49% stake in the Akkuyu Nuclear Power Plant in Turkey can be completed next year, Chief Executive Officer of the Russian state nuclear corporation Rosatom Alexei Likhachev told reporters on Wednesday, TASS reported.

"The ones desirous [to close the deal] are present, and not only in Turkey," the top manager said without detailing companies and countries involved in negotiations with Rosatom.

The probability "to close the deal on the stake sale in the Akkuyu NPP" is low this year but it is likely to take place in the next year, Likhachev added.

The Akkuyu Nuclear Power Plant is the first nuclear power plant project in the world being implemented upon the build-own-operate (BOO) model.

Rosatom State Atomic Energy Corporation of Russia signed an agreement on the main conditions for the Turkish energy companies Cengiz Holding, Kolin Insaat, and Kalyon Insaat to join the shareholders of the Akkuyu Nuclear JSC, which is implementing the Akkuyu Nuclear Power Plant project.

The agreement was signed at the 9th international forum ATOMEXPO 2017 in Moscow in June.

Turkish consortium claims 49 percent in Akkuyu Nuclear JSC. The value of the possible transaction has not been disclosed, but it will be the biggest investment of foreign companies into a Russian project implemented outside the country and the world's biggest private investment in nuclear energy sector over the past 17 years.

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