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Rusatom vice-chair: No plans for majority stake in Fennovoima

Rosatom wants to remain a minority shareholder in the Finnish power firm Fennovoima. Anastasia Zoteeva, vice-chair of Rosatom subsidiary Rusatom Overseas, said during a visit to Finland that the firm is happy with its 34 percent stake and is not targeting a majority holding.

Fennovoiman Pyhäjoen toimisto.
Image: Risto Degerman / Yle

Rusatom has been part of Fennovoima’s project to build a new nuclear reactor in Pyhäjoki since E:ON dropped out of the running. During a visit to Oulu and Pyhäjoki, Rusatom Overseas vice-chair Anastasia Zoteeva wanted to reassure locals that Russian nuclear technology is suitable for the new power station.

Fennovoima submitted a safety assessment for the 1,200-megawatt AES-2006 reactor to Finland’s nuclear regulator, STUK, in October.

Zoteeva says that Russia is one of the few countries in the world willing to invest in nuclear technology after the Fukushima incident. They are ready to help with the planned Pyhäjoki plant.

"Russians will take care of some of the nuclear technology at Pyhäjoki, but the majority of the construction work is in principle open to local contractors," said Zoteeva.

The decade-long building phase of the Pyhäjoki plant is expected to employ around 4,000 people. Rusatom is hoping that it will help the company crack western markets: at present the firm is constructing nine reactors in Russia and 20 for export to Iran, China, India, Bulgaria, Turkey, Belarus, Bangladesh and Ukraine.

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