Reference
This document has been submitted by the State Atomic Energy Corporation Rosatom per an Agreement between the Government of the Russian Federation and the Government of the Republic of Turkey on Cooperation in the Construction and Operation of the Nuclear Power Station on the Akkuyu Site in the Republic of Turkey, dated 12 May 2010.
The directive designates Rusatom Overseas as the organisation authorised by the Russian party pursuant to Clause 3 of Article 5 of the Agreement to implement projects to build Russian-designed nuclear power stations (hereinafter NPS) abroad.
Pursuant to the Agreement, the Akkuyu NPS is based on the ‘build-own-operate’ model.
To apply this model, Rusatom Overseas, a subsidiary of Rosatom’s JSC Atomenergoprom, has been formed. Rusatom Overseas focuses on comprehensive project management, including construction of nuclear power stations, cooperation with government authorities and authorised organisations in the contracting country, project management on behalf of the stockholders (corporate management), the raising of financial resources and management thereof in the process of construction and operation of the facilities, and the organisation in the contracting country of the infrastructure necessary for the development of the nuclear power industry, including the legal infrastructure.
Rusatom Overseas performing the functions of a direct shareholder in the design company Joint Stock Society for Generating Electric Power NPS Akkuyu is also necessary to raise the level of trust on the part of potential partners and to obtain a confirmed level of implementation for similar foreign projects.
Converting Rusatom Overseas’ status from management company to owner of the design company Joint Stock Society for Generating Electric Power NPS Akkuyu will make it possible to increase the Akkuyu project’s economic efficiency and to develop a competence centre for active positioning on the world nuclear market.