Rosatom makes first investment in Turkey nuclear project

Following a meeting between Turkish PM Recep Tayyip Erdogan and Russian president Vladimir Putin last week, Russia’s state-owned Rosatom has made its initial $700 investment in building Turkey’s first nuclear plant, according to Turkey's Sabah newspaper.

Capital inflow on the project will increase to $2.4 billion, Erdogan was reported as saying in the article. The entire Akkuyu nuclear plant will be financed by Russian state-backed companies to the tune of $25 billion. The four 1,200 MW AES-2006 reactors at Akkuyu are expected to begin construction in 2013 and scheduled to go online in 2020.

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