Russia`s work to build China`s Tianwan nuclear plant stage to cost $1.8 bln

Russia and China have agreed that Russia`s part of work to build the second stage of the Tianwan nuclear power plant (NPP) will cost 1.3 billion euros ($1.8 bln), a source close to negotiations said.

Earlier Russia said its work would cost 3.5 billion euros ($4.8 bln).

"The cost was lowered after [Russia`s nuclear power equipment and service export monopoly] Atomstroyexport reduced its contract commitments. The Russian company will remain in charge of design documentation, reactor equipment supplies, engineer support and supervision," the source said.

The Tianwan NPP is the largest facility of Russian-Chinese economic cooperation. Its first stage includes two power units with VVER-1000 reactors. The stage was put into commercial operation in 2007.

Atomstroyexport and the Jiangsu nuclear power corporation signed a general contract to build the NPP in 1997. The Russian company was charged with design work, equipment and material supplies, construction and assembly work, putting into operation and training Chinese personnel.

sections: Economics