2019-05-13 12:05:00
ROSATOM WILL UP TWICE
WNN - Rosatom expects to double revenue from its overseas business, from USD6.6 billion last year to USD15 billion by 2024, its director general, Alexey Likhachov, has told Russian Prime Minister Dmitry Medvedev. In their meeting, on 6 May, Likhachov said foreign projects were the "key theme" of the state nuclear corporation's future growth.
According to a transcript of their conversation published by Medvedev's office, Likhachov also said the "open part" of Rosatom's revenue had for the first time exceeded RUB1 trillion and that investment was also at a record level of one-quarter of a trillion rubles. The share of the state budget in the corporation's finances was gradually decreasing and being replaced by its own funds, he added.
Rosatom's supervisory board met on 22 April and concluded that its strategic targets to date had been met, including the investment programme of nuclear power plant operator subsidiary Rosenergoatom for the construction of units both in Russia and abroad, he said. The corporation's portfolio of overseas orders stretches 10 years ahead, he added.
It is also making progress with its new businesses. "It is important to emphasise here that more than 50% of the revenue from new businesses is provided by enterprises of the nuclear weapons complex, defence companies. This task was set by the President and the government," he said.
Rosatom's contribution to social funds, local budgets and the federal budget is growing and has reached a quarter of a trillion rubles, he said. Wages at the corporation have increased by more than 7% annually, "outpacing" the national growth rate, and there has been an annual increase of more than 9% in labour productivity.
Rosatom attaches "great importance" to training, he said, having created more than 11,000 high-tech jobs over the past five years. It aims to reach 25,000 jobs by 2024, he added.
Highlights of last year include the commissioning of Rostov unit 4 and Leningrad II unit 1, he said. In addition, construction of unit 2 at the Novovoronezh II nuclear power plant has been completed, with plans to synchronise it to the network and deliver its first pilot electricity between 9 and 12 May.
The "hit" of the past year was the country's first floating nuclear power plant, for which it expects to complete the licensing process in July and to tow it to Pevek in August.
Since Atomflot became a subsidiary of Rosatom, its revenue has changed from being half the value of the contribution of state funds to almost RUB7 billion, with federal funding coming to an end in 2020, Likhachov said.
"I would emphasise that, since 2013, we have been spending state funds for Atomflot only on the production of fuel for icebreakers that are under construction," he added.
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Earlier:
2019, May, 8, 11:00:00
U.S. URANIUM DOWN AGAIN
The United States produced 1.47 million pounds of uranium concentrate in 2018, down for the fourth consecutive year and the lowest total since 1950,
2019, May, 6, 11:47:00
BRITAIN'S NUCLEAR ELECTRICITY
The UK's National Nuclear Laboratory (NNL) and University of Leicester have generated usable electricity from the chemical element americium in what it believes to be a global first. The achievement is seen as a step towards potential use of americium in so-called space batteries, which may mean future space missions can be powered for up to 400 years.
2019, May, 6, 11:20:00
FRANCE'S SAFE NUCLEAR FUEL
Framatome, the French fuel and technology company said "two full fuel assemblies" of its Enhanced Accident Tolerant Fuel would be loaded at Exelon's Calvert Cliffs plant in February 2021.
2019, May, 2, 16:20:00
FRANCE'S NUCLEAR SHUTDOWN
France's ambitious energy plan will require substantial investment efforts over the next few years. Against this backdrop, the French government has expressed a willingness to propose a new remuneration framework for the existing nuclear fleet - though the timing and details of such a regulatory change remain uncertain and remote. What's more, the French state has opened the option of increasing its stake in EDF (currently 83.7%) by as early as 2019. If, or indeed when, these developments are implemented it could be credit positive.
2019, April, 29, 11:25:00
EUROPE'S NUCLEAR VALUE
The European nuclear industry sustains more than 1.1 million jobs in the EU and generates more than half a trillion euros in GDP, according to a new study by Deloitte released yesterday. The study was commissioned by the European nuclear trade association Foratom to assess the contribution of the nuclear sector to the overall economy of the EU28 both today and in 2050.
2019, April, 26, 10:00:00
NUCLEAR POWER FLUX DENCITY
"In California, one of the sunniest places in the world, it still takes 450 times more land to produce the same amount of electricity from solar as it does from nuclear," he said. "Why do solar panels require 17 times more material, 17 times more land chewed up for mining than what uranium requires? The answer is energy density, which is what makes nuclear power an environmentalist's story."
