Russia to create a nuclear energy company

Russia’s state Duma has adopted a bill on reforming the nuclear energy sector. The new law outlines the creation of a state-run holding company, AtomEnergProm, which will be responsible for the civilian nuclear power industry.

Head of the Federal Atomic Energy Agency, Sergey Kirienko, described the role of the future holding in Russian economics.

“The aim of the law is to create conditions for developing the nuclear industry in Russia. Other nuclear-developed countries generate over 30% of electricity from the atom. Russia which built the first nuclear station in the world relies on the atom half as much. That means that we are using more gas, but nuclear energy is more effective and cheaper. With the new law the state will preserve full control over nuclear materials. The military sector remains closed. And the list of entities that will be responsible for civil nuclear materials will be approved by the President. AtomEnergProm will be 100% state-owned and there is no doubt that the state will preserve full control over the industry,” Mr Kirienko said.

As well as building nuclear power plants in Russia and abroad, it is expected that AtomEnergProm will take an active part in the world's civilian nuclear materials trade.