Russia to spend $5.8 billion on nuclear energy in 2009-2010

More than 150 billion rubles ($5.75 billion) will be appropriated for the implementation of a new nuclear energy program in Russia from the draft federal budget for 2008-2010, Russia’s deputy prime minister said Tuesday.

Alexander Zhukov said: “[Expenditure on nuclear energy] in 2008 will be triple the amount in 2007, and more than 150 billion rubles ($5.75 billion) will be spent on the nuclear energy program in 2009-2010.”

In addition, he said, the three-year budget envisages financing electric power grid networks in Russia and reducing cross subsidizing in the power sector.

Russia has 31 operating power reactors at 10 nuclear power plants (NPPs) with a total installed capacity of 23.2 MWe. The average current share of NPPs in electricity generation is 16.5 percent.

Ivanov, who recently was entrusted with the supervision of the country’s nuclear power and defense industries, said a new state-owned holding company, Atomenergoprom, would be set up to handle activities ranging from uranium extraction, fuel fabrication and electric power generation, to the construction of nuclear power plants, both domestically and abroad.

RIA Novosti