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Finland's government approves nuke project with Russia’s Rosatom

September 18, 2014, 18:59 UTC+3 HELSINKI

Rusatom Overseas is to supply a 1,200-megawatt reactor to the plant

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HELSINKI, September 18. /ITAR-TASS/. Finland’s government has approved granting a renewed license to nuclear company Fennovoima for construction of the Hanhikivi-1 nuclear plant, which will be implemented with participation of Russian nuclear power corporation Rosatom, Finnish broadcasting company Yle reported Thursday.

In December 2013, Fennovoima and Rosatom’s unit Rusatom Overseas signed a contract to build the plant, while the license was granted to Fennovoima already in mid-2010. In August, the government delayed the consideration of the project, as the Russian company was not mentioned as a reactor provider when the license was issued.

Rusatom Overseas is to supply a 1,200-megawatt reactor to the plant. The construction of the plant will start no earlier than in 2015. According to Finnish media, the cost of the project amounts to €6.5 billion, with Fennovoima expected to invest 1.6 billion euros and the reminder to come from Rosatom.

Rosatom acquired a 34% stake in Fennovoima in late March for €35.9 million.

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