Russian president Vladimir Putin has reportedly initiated the creation of AtomEnergoProm, also known as the Nuclear Power Industry Complex, which will act as a holding company for Russia's civil nuclear industry, according to World Nuclear News.
The state-run vertically integrated company, which will be established by July 1, 2007, will be comprised of Russia’s most important industry players, including companies that extract and enrich uranium and companies that build nuclear power plants, the industry publication reported.
Interfax revealed that AtomEnergoProm (AEP) will initially include state-owned interests in 34 nuclear companies. In the first stage, the company will hold 100% of TVEL, Techsnabexport and Atomredmetzoloto and 25.1% of the Kaluga Turbine Plant. The publication also reported that, in its second stage, AEP will incorporate state interests in a further 55 companies.
According to World Nuclear News, combining Russia’s nuclear enterprises into one holding company will create one of the biggest nuclear players in the world, with operations on a similar scale to those of French behemoth Areva. Unlike Areva, however, AEP will have its own nuclear power plant operation capability.
World Nuclear News reported that the Kremlin hopes that AEP will help Russia in achieving its aims to build two new nuclear power reactors a year between 2011 and 2014, with a subsequent three per year until 2020. The publication also revealed that AEP is expected to win approximately 20% of the global new reactor market over the next few decades.
Interfax reported that AEP is expected to be fully created by 2008 and that a state-run non-profit organization will be set up to manage the holding company.