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Rosatom

Nuclear

Eastern Europe going cold on nuclear power

Zoltan Gorog is ready for the Russian invasion. The real estate agent in the Hungarian town of Paks has added Cyrillic to the blue and white sign hanging above his offices. He’s set up empty desks for when he needs to expand to cope with the surge in business.

Oil & Gas

Rosatom says Russia can fund South Africa $100billion nuke plan

Russia’s government is ready to help South Africa fund new nuclear plants, estimated to cost as much as $100 billion, if state-owned Rosatom Corp. is awarded the construction contracts, a company official said. Moscow-based Rosatom has suggested several funding models, including helping South Africa secure a Russian loan, Viktor Polikarpov, regional vice president for sub-Saharan Africa, said in an interview in Cape Town on Thursday. The loan duration might be 20 years and South Africa would only start repayment when the first plant starts operating, he said.

Markets

Nigeria signs Rosatom deal for up to $80 billion nuclear power

Nigeria is in talks with Russia’s Rosatom Corp. to build as many as four nuclear power plants costing about $80 billion as Africa’s biggest economy seeks to add 1,200 megawatts capacity by the end of the decade. The West African nation signed an agreement with Rosatom to cooperate on the design, construction, operation and decommissioning of a facility, said Franklin Erepamo Osaisai, chairman and chief executive officer of the Nigeria Atomic Energy Commission. It will be increased to four nuclear plants with total capacity of 4,800 megawatts by 2035, with each facility costing $20 billion, he said.