Rosatom Eyes Iran Energy Projects

Rosatom Eyes Iran Energy ProjectsRosatom Eyes Iran Energy Projects

Russia’s atomic energy corporation Rosatom is working on several new joint projects with Iran, the company's deputy director general for international affairs, Nikolai Spassky, said. He added that “laying the foundation stone” in Iran’s Bushehr-2 Nuclear Power Planat is expected to take place this year, Sputnik reported. “We already have several new projects which are important for the industry,” Spassky said as quoted by the company’s annual review. In 2014, Iran and Russia agreed on building two new nuclear reactors on the site of Bushehr, starting in fall 2015. Investments are estimated to total $11 billion. The project is expected to be built via Russian finance under a turnkey contract, based on which the contractor will complete the project and hand it over. Tehran-Moscow cooperation in the power plant industry stretches back to 1995, when Russian contractors took over Bushehr Nuclear Power Plant from the Germans. The power plant continued to face technical and financial obstacles, but it officially went on stream in September 2011 and reportedly reached full capacity in mid-2014.