Putin signs AtomEnergoProm decree

Monday, 30 April 2007 President Vladimir Putin signed documents on 27 April to create AtomEnergoProm (AEP) as a vertically-integrated holding company for the entire Russian civil nuclear industry.

As previously reported, AEP would be the amalgamation of the country's most significant nuclear enterprises: AtomEnergoMash; AtomStroyExport; Rosenergoatom; Technabsexport (Tenex); and TVEL. That top tier of state-owned 'Joint Stock Companies' would form the AEP's branches, in which foreign investment would be welcomed at lower levels.

The result will be one of the biggest nuclear companies in the world, on the scale of France's giant Areva, but that uniquely includes nuclear power plant operation capability.

Putin and his atomic energy minister, Sergei Kiriyenko expect the new structure to help Russia achieve a new nuclear build target of two new reactors per year from 2011 to 2014 and then three per year up to 2020. In addition, the company is expected to win around 20% of the world's new reactor market in coming decades.

Further information

WNA's Nuclear Power in Russia information paper

WNN: AtomEnergoProm decree in final stages