Russia says can complete construction of Turkey power plant alone

TAGS: Business, Energy, Turkey, Environment

Russia is able to complete the construction of Turkey’s Akkuyu nuclear power plant even if it is unable to attract other investors, Russian Energy Minister Alexander Novak said.

“Already, $3 billion has been invested... If they won’t find an investor, it means that the plant will be built by Akkuyu Nuclear,” Novak said, referring to a company owned by the Russian state nuclear company Rosatom.

Russian firm Rosatom has been seeking investors for a 49 percent stake in the Akkuyu nuclear power plant project.

The project is planned to be financed by Rosatom and its partners involving loans from export-import agencies and banks. [Reuters]