Russia transfer $1bn for Finland nuclear power project

 Russia transfer $1bn for Finland nuclear power project

The Russian National Wealth Fund transferred its first $1 billion toward construction of a new nuclear power plant in Finland.
 
The funds were reportedly placed in Atomenergoprom, a subsidiary of Russian-owned nuclear developer Rosatom, in the amount of 57.5 million preferential shares valued at 1,000 rubles ($17.50) per share, according to Sputnik News.
 
Finnish nuclear company Fennovoima and Rusatom Overseas, another subsidiary of Rosatom, signed a contract to build the 1,200-MW Hanhikivi 1 nuclear power plant in Finland. The power plant is expected to begin operations in 2024. The plant is expected to cost 4-6 billion euros ($5.4-$8 billion).
 
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