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9 Feb, 2016 10:57

Boost in foreign orders for Russian nuclear power plants

Boost in foreign orders for Russian nuclear power plants

The Russian state atomic energy corporation Rosatom is expecting to increase foreign orders up to $190 billion within the next five years, according to south Asia regional director Evgeni Griva.

Rosatom is now actively expanding its global network and opening regional offices, Griva told India’s Financial Express newspaper. He is in charge of the new regional office in Mumbai, India.

The strategy of increasing foreign orders is an “ambitious but achievable goal,” he said.

Rosatom is currently constructing India’s Kudankulam nuclear power plant (NPP) which has six reactors.

According to Griva, work on the first and second units has already been completed.

Russia and India agreed to build the Kudankulam nuclear plant in November 1988. It is the only nuclear power plant which meets all the 'post-Fukushima' safety requirements.

Moscow also has an agreement with New Delhi to construct another 12 nuclear power plants in India.

Rosatom had foreign orders worth $110 billion in 2015. Last month the atomic energy corporation began construction a nuclear power plant in northern Finland.

In August, Rosatom and Vietnam’s state-owned Vietnam Electricity (VPN) signed a framework agreement for the building of the country’s first nuclear power plant.

READ MORE: Russia to loan Egypt $25bn for nuclear plant construction

The Russian company is also expected to start working on Egypt’s first nuclear power plant. Moscow will provide Cairo with $25 billion credit line for the construction.