ST. PETERSBURG, May 25. /TASS/. The Russian nuclear power corporation Rosatom’s trading branch operating on the foreign market, Tenex, and Electricite de France (EDF) have signed a contract for recycling regenerated uranium from France. The contract was concluded at the St. Petersburg International Economic Forum.

It will let the EDF improve economic parameters, preserve natural resources and diversify sources of supplies.

The contract will take effect after approval by the Euratom Supply Agency.

Tenex CEO Sergei Polgorodnik told the media after the signing ceremony the contract will be implemented in 2022-2032. The value of the contract for the whole package of regenerated uranium handling services is $1 billion.

"Under this contract we will tap our potential to process regenerated uranium. The amount of material involved is large and so is the value. The contract is $1 billion worth," Polgorodnik said.