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Rosatom prepares contract on Vietnam’s Ninh Thuan-1 nuclear project in 2014

MOSCOW, June 11. /ITAR-TASS/. Russia’s state nuclear corporation Rosatom says it is planning to prepare and sign a contract on the Ninh Thuan 1 nuclear power plant in Vietnam.

The corporation’s annual report was discussed within ATOMEXPO 2014 International Forum on Wednesday.

The Vietnamese government has approved preparations for the contract, the report says.

“In December 2013, Vietnam developed a feasibility study for building the nuclear power plant. The Vietnamese government also approved two contracts before the feasibility study was approved,” the report says.

The Ninh Thuan-1 plant with four reactors is to be built in the province of Ninh Thuan, 250 km (155 miles) northeast of Ho Chi Minh City, at an investment of 200 trillion dong ($9.5 billion).

Vietnam plans to produce 15,000 megawatts of electricity, or 10% of total generating capacity, through nuclear power by 2030, a senior official of the Vietnam Atomic Energy Commission has said.

Vietnam's current generating capacity is around 32,000 megawatts, and it produced 124.6 billion kilowatt hour of electricity last year, up 8.2% from the previous year, based on government statistics.

The portfolio of Rosatom’s nuclear orders will double in 2014 and reach up to $100 billion.

In May, the corporation signed an agreement with Kazakhstan to build a nuclear power plant. It is expected to build the third and fourth units at the Kudankulam nuclear power plant, India, within the Russian-Indian roadmap. Finland signed a contract with Rosatom to build a nuclear power plant in the country’s west. The Russian corporation continues the works in Hungary, Bangladesh and Vietnam. Rosatom and Iran seek to expand cooperation over the Bushehr nuclear power plant. The construction of a nuclear power plant in Belarus is ahead of schedule.

Rosatom is planning to open an affiliated company in Brazil with the headquarters in Rio de Janeiro.

The corporation cooperates with Argentina that is planning to build new units at nuclear power plants. Rosatom supplies isotopes for Argentina’s nuclear medicine.