Russian Bank to Provide US$400M Loan for Turkey's Akkuyu Plant

摘要

State-owned Sberbank, Russia'slargest banking and financial servicescompany, will provide a US$400 millionloan for the construction of Turkey'sfirst nuclear power facility, the four-unitAkkuyu Nuclear Station in the southerncoastal province of Mersin.The seven-year loan will be providedto a subsidiary of Russian state nuclearentity Rosatom, which is building theplant. Plans for the 4,800 MWe plantwere outlined in an intergovernmentalagreement signed by Russia and Turkeyin 2010. The four Russian-designedVVER-1200 reactors are expectedto lower Turkey’s dependence onenergy imports. After several delays,the foundation for the first reactorwas completed in May and work isprogressing for the second unit.