Atomenergoprom / News http://www.atomenergoprom.ru/en/ TVEL posts 2009 sales of RUB 58.3 billion http://www.atomenergoprom.ru/en/press/news/2010/05/item1387.html Russian fuel company TVEL said that revenues from the sale of goods, works and services in 2009 was RUB 58.3 billion ($1.87 billion), which is 12,1% higher than the same period in 2008. The main factor behind the increase in revenue was the growth of revenue from the sale of nuclear fuel assemblies for Russia (31,6%) and exports abroad (13%), it said.

The 2009 split of domestic sales to export was 41:59. The company made a net profit of RUB 9 billion, which is 2.471 billion higher than last year.

Nuclear Engineering International

]]> Tue, 25 May 2010 17:35:00 +0400 US Agency Approves Nuclear Fuel Contract Between Russian Supplier And Minnesota Utility http://www.atomenergoprom.ru/en/press/news/2010/05/item1372.html On April 21, the U. S. Department of Commerce (DOC) approved a long-term contract for the joint stock company TENEX (Techsnabexport, an enterprise of Russian State Corporation Rosatom ) to supply low enriched uranium directly to Northern States Power Company, an Xcel Energy subsidiary located in Minnesota. The contract is the eighth concluded between U.S. utilities and TENEX since May 2009.

The Amendment to the Russian Suspension Agreement signed by the state corporation Rosatom and the DOC in February 2008 allowed U.S. utilities to enter into direct contracts with the Russian supplier for securing long-term low enriched uranium supplies on mutually-advantageous terms.

Press service of JSC "Techsnabexport" (TENEX)

 

]]> Mon, 17 May 2010 17:16:00 +0400 Miss Atom-2010 broadens its frontiers http://www.atomenergoprom.ru/en/press/news/2010/04/item1320.html April 15, 2010, the voting started at the International Internet-based beauty contest Miss Atom-2010. In two week the most beautiful females of nuclear industry and awardees of special prices will be announced. The contest is held for the seventh time. It is participated by female workers of the nuclear industry enterprises and organizations of Russia, former USSR republics, students and post graduates of nuclear related educational institutes. Also, female workers of nuclear contracted or related companies can compete.

“This year, the contest website is done in two languages Russian and English for the first time, Ilya Platonov, the Nuclear.Ru director general said. “We know that the Miss Atom project is of great interest in other countries and decided to make it closer for the foreign audience. We hope it will further broaden its frontiers.” The contest organizer is Nuclear.Ru. The principal sponsor of Miss Atom-2010 is Fuel Company TVEL of SC Rosatom. The contest partners are Atompromresursy Group of Companies, International Forum ATOMEXPO 2010, and Keune Haircosmetics.

]]> Mon, 19 Apr 2010 15:41:00 +0400 Petrozavodskmash Joins Rosatom System http://www.atomenergoprom.ru/en/press/news/2010/02/item1206.html JSC Atomenergoprom acquired a largest machine engineering company Petrozavodskmash using the companies within its system. The deal was initiated by Atomenergomash.

To guarantee effective expenditure, Petrozavodskmash was acquired by an exchange of Petrozavodskmash shares for a minority share (7% of equity capital) of Atomenergomash plus an extra cash payment. The shares were bought from the Petrozavodskmash management. The parties agreed not to disclose the deal price.

Prior to the purchase, Atomenergomash conducted a thorough technical audit of the company’s facilities and determined that the plant’s production capacity and human resources are adequate for the production of a wide range of main and auxiliary equipment for nuclear power plants.

“By combining the competence of Atomenergomash and the production capacities of Petrozavodskmash, we will get another large vendor of equipment for nuclear power plants, including those to be located on the nuclear island. This deal represents the next step in the nuclear equipment market competition program that is intended to ensure high quality of the supplied products and efficient use of investments,” says Kirill Komarov, Chairman of the Board of Directors for Atomenergomash and executive director of Rosatom’s Nuclear Power Complex.

“The company has some unique facilities that allow launching production of critical equipment for nuclear power plants under construction,” notes Vladimir Kaschenko, General Director of Atomenergomash. He added that the companies of Atomenergomash Group have already made contracts with Petrozavodskmash totaling over 2 bln rubles to supply equipment for the nuclear island.

“I am sure that the expertise of Atomenergomash in production business development for nuclear power plants construction federal program will help Petrozavodskmash effectively integrate into the nuclear industry and provide extended supplies of high-quality equipment at a competitive price,” stresses Mr. Kaschenko.

Petrozavodskmash is a company with welding, mechanical assembly and metallurgy production facilities. The company has been in a continuous development process since its establishment in 1960, mastering new markets. Its major clients include paper mills, petrochemical facilities and power companies.

Press-service of Atomenergoprom

]]> Fri, 12 Feb 2010 14:32:00 +0300 Atomstroyexport has awarded gifts to young Indian artists http://www.atomenergoprom.ru/en/press/news/2010/02/item1194.html The distribution of prizes to the winners of the international children's drawings competition “Russian-Indian friendship at NPP “Kudankulam” has taken place in NPP “Kudankulam”`s construction camp named Anuvijay (Atom`s victory). JSC “Atomstroyexport” acted as the organizer of that competition under the auspices of the Indian partner – directorate of NPP “Kudankulam”`s construction of Nuclear Power Corporation of India Ltd (NPCIL).

About 500 children have participated in the competition, all of them are the pupils of Anuvijay`s school. The winners in three age nominations have been awarded cameras and sports bicycles by Russian atomic scientists. 100 of the best children's drawings has been earned valuable gifts for development of the Russian-Indian friendship`s subject. All young participants of children's competition have received memorable souvenirs from JSC “Atomstroyexport”.

According to NPP “Kudankulam” site`s Director  Mr K. Balaji, “the carrying of the competition is very important for development of friendly relations between India and Russia as it  vividly shows respect, confidence and mutual understanding that always existed between our nations” .

“We highly value the attention of the Russian colleagues to our children, and for us the participation in that competition was the great holiday, - told Mrs B. Gomathi, the head of atomic energy central school. – We hope that joint social events will become heart-warming tradition for us”.

In the nearest future the exhibition of young artists’ works named “Russian-Indian friendship at NPP “Kudankulam” is planned to be organized at the central offices of State Corporation Rosatom and JSC “Atomstroyexport”.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Press-service of JSC “Atomstroyexport”

]]> Fri, 05 Feb 2010 13:16:00 +0300 TENEX Summarize Preliminary 2009 Results http://www.atomenergoprom.ru/en/press/news/2009/12/item1145.html The year 2009 has set an important milestone in the implementation of the intergovernmental agreement between the Russian Federation and the United States on the use of the highly enriched uranium retrieved from nuclear arms and dated 18 February 1993 (The HEU-LEU Agreement or, as known to the global community, the Megatons to Megawatts Program).

The HEU-LEU Agreement makes provisions for the low enriched uranium (LEU) downblended from highly enriched weapon grade uranium (HEU) by Rosatom State Corporation subsidiaries to be shipped to the USA and used there as fuel for US nuclear power plants. The executive contractors of the two parties to this Agreement are TENEX (a wholly owned subsidiary to JSC Atomenergoprom) and the United States Enrichment Corporation (USEC). Since the first LEU shipment on 31 May 1995, the USA have received around 11,049 tons of the material processed from 382 tons of HEU or 76% of the HEU-LEU Agreement total volume of 500 tons. Therefore, the Megatons to Megawatts Program has reached its final stage. Russia's currency earnings for the shipped material have exceeded USD 8.8 billion. Additionally, natural uranium material, or the so-called natural LEU component, priced at approximately USD 2.8 billion has been returned to the Russian Federation.

In accordance with its 2009 Business Plan, TENEX has undertaken a combination of actions to expand the portfolio of long-term agreements for the delivery of nuclear fuel cycle products and services to foreign customers, which constitutes the core area of business for the company and is the key component in the Crisis Management Program implemented by Rosatom State Corporation.

In 2009, TENEX having closed six contracts for the total of around USD 3 billion has, after a long pause, resumed direct commercial shipments of uranium products to US power companies. Therefore, along with reliable execution of the contract under the HEU-LEU Agreement, the company has made a breakthrough of Russian high-tech goods into the largest segment of the global nuclear market. In 2010, at least another three similar contracts are expected to be signed for an overall amount of about USD 1 billion.

During this year, new long-term contracts for the supply of low enriched uranium to the European Union and the Asian-Pacific region have been made and supplementary agreements to the existing contracts have been signed totaling USD 7.5 billion. By the end of 2009 the uranium products export order portfolio for the duration of 5 years (excluding the HEU-LEU shipments) will have gone above USD 8 billion (or 104% of the planned volume), whereas the overall order portfolio will have reached beyond 15 billion USD...

In total, foreign customers have consumed uranium products and services for the total amount of around USD 2 billion under commercial contracts; the Russian Federation budget has received another USD 900 million.

In 2009, the collaboration under the contract between TENEX and CNEIC of China has been continued in order to assist the assembly of the fourth stage of the uranium isotopic enrichment plant being built in China under the Russian state-of-the-art centrifuge technology. The construction of the said facility proceeds at full speed according to the schedule. Around 60% of the main machinery (i.e. gas centrifuge equipment) has already been delivered. The volume of auxiliary equipment shipments has totaled over USD 20 million. Forty-five per cent of the design and technology documents of the overall contracted amount has been developed and handed over to the Chinese side. It is worthwhile to make a special mention of the high appreciation expressed by the Chinese customer of the technical design for the facility construction, which was presented in July 2009 in Beijing jointly by TENEX and the All-Russian Scientific Research and Design Institute for Energy Technology (VNIPIET), a major design institute of the Russian energy industry, and received approval.

In May 2009, a Memorandum of Understanding was signed in Tokyo between TENEX and Toshiba Power System of Japan, a subsidiary to Toshiba Corporation. The MoU complements the Overall Framework Agreement on commercial cooperation concluded between JSC Atomenergoprom and Toshiba Corporation on 20 March 2008 and provides, among other things, for the evaluation of business concepts or commercial plans developed for the cooperation in production and supply of nuclear fuel cycle products and services, including, in particular, enriched uranium.

In December 2009, the first in Russia industrial-scale plant processing depleted uranium hexafluoride (DUHF, UF6) into uranium oxide concentrate (U3O8) was launched at the Joint Stock Company “Production Association “Electrochemical Plant” (EKhZ, a wholly owned subsidiary to JSC Atomenergoprom, Zelenogorsk, Krasnoyarsk Region). The new facility was build under a TENEX contract using the technology of French AREVA NC and is capable of processing 10 thousand tons of DUHF per year. Isolation of chemically aggressive fluorine at this plant will enable transformation of DUHF into the uranium oxide concentrate, a chemically stable product with chemical properties closely resembling uranium ores in natural state, easily conservable and making possible further use in the fuel production for the future nuclear power plants with fast neutron reactors.

TENEX personnel have actively assisted the promotion of Russian cross-border initiatives as relates to the establishment of an international legal framework and infrastructure to guarantee nuclear fuel supply and reinforce the global nuclear non-proliferation effort. In 2009, government-level agreements were signed that made possible participation of authorized Ukrainian and Armenian agencies in the activities of the International Uranium Enrichment Center (IUEC) founded by Russia (TENEX) and Kazakhstan (Kazatomprom, National Atomic Company) in Angarsk in 2007. Under the decision made by JSC Atomenergoprom (the sole shareholder), TENEX handed over its stock in the IUEC to Rosatom State Corporation in October 2009.

In November 2009, the IAEA Board of Governors adopted a resolution supporting the Russian Federation Government initiative to establish and maintain in Russia a stock of low enriched uranium and to carry out LEU supplies therefrom to the IAEA for its member-states. This became a diplomatic breakthrough in the process of establishment of an international system guaranteeing reliable nuclear power plant fuel supplies and lowering the risks of proliferation for sensitive nuclear technologies. It is suggested that the said stock will be managed by the IUEC and will be transferred under a corresponding contract, when an appropriate supply request arrives from the IAEA, from the IUEC to the IAEA.

All the necessary preliminary stages have been accomplished, including obtaining an approval from the State Technical Expert Board, prerequisite for the Russian Federation Government to consider the establishment of the Russian-Kazakhstan Center for Uranium Enrichment in Angarsk that is key to the nuclear power industries Integration Program of the two countries.

TENEX personnel have taken an active part in various projects and initiatives carried out by international industrial agencies, such as the World Nuclear Association (WNA), the US Nuclear Energy Institute (NEI) and the IAEA. The primary goals of this activity are to facilitate interaction with the key players in the global market segments of nuclear fuel cycle products and services, to make information exchange on the current state and development prospects in the market, to work out and promote a joint stance on various important issues of the global nuclear industry.

A draft law prepared with direct participation from TENEX addressing the state regulation of foreign-trade barter contracts was submitted to the State Duma (the Lower Chamber of the Russian Federation Parliament) for consideration in 2009. This draft law is of paramount importance for the industry exporters. The adoption of the law would considerably reinforce the competitiveness of Russian suppliers at the global uranium market.

In December 2009, the Svea District Court of Appeal (Sweden) dismissed the suit by Globe Nuclear Services and Supply GNSS, Limited (an intermediary company formerly engaged in the work under the HEU-LEU Agreement as it pertained to the sale of the LEU natural component) to repeal the ruling of the international commercial arbitration in Stockholm (Sweden) previously made in favor of TENEX. The said Court of Appeal ruling is binding and cannot be appealed. Thereby, the legitimacy of the arbitration ruling was confirmed by a Swedish Court of Appeal and the lawsuit having gone for over six years and initiated by GNSS in order to gain over USD 1 billion from the Russian Federation budget was finally brought to an end.

As part of the three-year program launched in 2009 to deploy a publicly available integrated report system at Rosatom State Corporation, TENEX participated in a pilot project undertaken by a number of key industry agencies to prepare the reports for the year 2008 and make them available to the public. The company also takes an active part in the implementation of the industry-specific project to introduce the Rosatom State Corporation Code of Ethics.

Mr. A.A. Grigoriev, TENEX Director General, approved the list of the grant-holders who had received high appraisal of the contest jury at the Seventh Future Energy 2009 International Contest of Scientific and Educational Projects. The grant-holders will receive monthly grants for the duration of one year starting June 2009 and ending May 2010. The grant amount will make 1,500 rubles a month.

This October TENEX received an International European Quality Award (the New Millennium Award) in Madrid (Spain). This prize is awarded annually jointly by a publishing group Editorial Office and the Trade Leaders' Club. This 2009 European Quality Award is far from being the first international award received by TENEX over the 46 years of operation and confirms again the appreciation of the company's contribution into the trade of nuclear materials and services, as well as into international cooperation.

Among the major tasks TENEX sets for 2010, it is worthwhile to point out the continued long-term contracting effort and bringing the contracted portfolio to USD 20 billion; also separating non-core assets and focusing on the principal activity (i.e., exports of nuclear fuel cycle products and services); incorporating JSC Spb Izotop as a subsidiary company to facilitate    competitiveness in the logistics and supplies; assisting the formation of a fuel company based on JSC TVEL; and participating in feasibility studies for the joint uranium enrichment facilities construction projects to be built abroad under the Russian gas centrifuge technology.

Press-service of JSC Atomenergoprom

]]> Mon, 28 Dec 2009 18:03:00 +0300 Rosatom And En+ Group Form JV To Create Fast Neutron Reactor http://www.atomenergoprom.ru/en/press/news/2009/12/item1140.html Rosatom State Atomic Energy Corporation and En+ Group established a joint venture OAO AKME-engineering.

The 50/50 JV will design and produce a prototype 100 MW lead-bismuth fast reactor (SVBR-100) with a view of commercializing the technology.

SVBR-100 is being developed at the enterprises owned by Rosatom. The JV’s short-term plans include completing the RND for the project and producing a detailed design of the pilot reactor and principal equipment and also obtaining necessary licenses. A pilot power generating unit based on SVBR-100 technology is scheduled to be commissioned around 2019.

Nuclear power plants with SVBR reactors may be crucial for providing power to remote and detached regional consumers; this technology could be installed in mobile (floating) nuclear power plants complemented by sea water conversion units. Besides, the fast reactor technology could make an important contribution to the nuclear generation resource base.

Lead bismuth cooled reactor technology has been used in nuclear submarines and has proved to be safe and efficient.

Preliminary estimates show that the large-scale production of the new type reactors could make the specific Capex for constructing 1 kW of a nuclear power plant comparable to that for constructing 1 kW of a coal fired power plant, which will make it one of the lowest-cost plants in the power generation industry – and there will be zero greenhouse gas emission.

IAEA’s estimates show that some 500-1000 power generating units based on small-to-medium reactors can be launched in the period till 2040. The SVBR technology could account for 10% to 15% of the global nuclear power market of small-to-medium capacity.

“This is a pilot high-tech project to be implemented by the Rosatom State Corporation and a Russian private entity on a 50/50 basis. We think it’s an opportunity for us to use the huge groundwork we’ve done in the field of fast reactors and make it a commercialized and competitive product. We’re glad to see private investors in this country, who take the long view amid the economic crisis and who are ready to invest into new technologies that can take a significant share of the global market, once the crisis is over. We expect the government to provide a strong support of this high-tech project implementation. It will be put on the list of the projects under the aegis of the RF President’s Commission For Long-Term Development”, Rosatom Deputy Director General Peter Shchedrovitskiy said.

En+ Group CEO Vladislav Soloviev commented: “High-tech power generation projects and designs are the priority investment targets for En+ Group and EuroSibEnergo. We believe that the development of the nuclear power industry is one of the most promising ways to meet the rising demand for energy, with the lowest environmental impact in mind”.

About the JV founders:

En+ Group's strategy is to focus on businesses which extract raw materials for energy production, generate electricity and produce non-ferrous metals. En+ Group holds the controlling stake in United Company RUSAL, the world's largest producer of aluminium and alumina; En+ Group owns EuroSibEnergo, the largest private energy company in Russia, and a number of oil and gas assets, and coal assets. En+ Group companies produce about 11% of the world’s aluminium and 13% of its alumina, 9% of electric power and 5% of the Russia’s coal. (www.enplus.ru)

The Rosatom State Atomic Energy Corporation runs all nuclear assets of the Russian Federation, both civil and weapons. Along with commercial activities which move forward nuclear power and nuclear fuel cycle facilities, it acts as a governmental agent, primarily in the field of national security (nuclear deterrence), nuclear and radiation safety, basic and applied science. Besides, it has the authority to fulfill on behalf of the Russian Federation the international commitments undertaken by the nation with regard to the peaceful use of atomic energy and non-proliferation. ROSATOM was established on December 18, 2007. One of the most important ROSATOM constituents is Atomenergoprom that has incorporated all civil assets of the nuclear industry. ROSATOM also runs the nuclear ice-breaker fleet; another asset of the Company is INTER RAO UES, which manages energy assets in 14 countries. ROSATOM is headed by Sergey Kirienko. (www.rosatom.ru)

]]> Fri, 25 Dec 2009 11:04:00 +0300 JSC TVEL is conducting preliminary review of its foreign economic activity in 2009 http://www.atomenergoprom.ru/en/press/news/2009/12/item1129.html JSC TVEL (100% affiliate of JSC Atomenergoprom) has conducted preliminary review of its foreign economic activity in 2009 and pointed out the key results of work in foreign markets.

In 2009 the Russian manufacturer of nuclear fuel fulfilled all its commitments to foreign customers in full. Strategically JSC TVEL’s activity was based on recording and meeting clients’ demands which have once again justified mutually beneficial cooperation.

In February JSC TVEL entered into long-term contracts to supply 2000 tons of fuel pellets made of natural uranium dioxide for heavy water reactors in India (PHWR), and 58 tons of low-enriched uranium pellets for fabrication of fuel for units 1 and 2 of Tarapur NPP where boiling water reactors (BWR) operate. The total revenues from these contracts will make about $ 700m within five years. Negotiations with Indian partners are currently being held to expand cooperation through to joint fabrication of nuclear fuel for different reactor types.

In May 2009 JSC TVEL’s affiliate JSC Mashinostroitelny Zavod fabricated the 2000-th fuel assembly for western type reactors in accordance with AREVA NP specifications. The Russian manufacturer has received no reclamation for quality. Following the result of meetings held in 2009 and negotiations at TVEL and AREVA management board level agreements were reached on a number of new and attractive projects planned to start next year.

In 2009 TVEL started supplying nuclear fuel to the first unit of Temelin NPP after CEZ made the decision to conduct a pre-schedule discharging of American fuel from this unit. High technical and economic features of Russian fuel have predetermined CEZ’s decision to conduct the pre-scheduled discharging from the second unit of Temelin NPP and replacing it by Russian fuel from 2011. In 2010 JSC TVEL is planning to sign fuel contracts to fully load the unit.

Slovak NPP operator’s management board has made the decision to enter into a contract with JSC TVEL to supply fuel for NPP Mohovce’s units 3 and 4 being constructed at present. The business contract is ready for signing, the ceremony will be held in the beginning of the next year.

Last year the company supplied Hungarian Paks NPP with experimental new generation fuel assemblies. Following the results of run-in operation Hungarian supervisory authority granted approval to use new fuel at Paks NPP starting from 2010.

In 2009 a cooperation agreement was signed with another European NPP operator to license TVS-Kvadrat fuel assemblies for another Western European country. Negotiations with other foreign partners are in progress in order to supply TVS-Kvadrat for US and Asian nuclear fuel markets.

This year a long-term contract has been negotiated and prepared for signing to supply fuel for Ukrainian NPPs after 2010. The document stipulates providing Russian fuel assemblies for at least 12 reactors within 12 years. Investment justification has been elaborated for the project of a standard regional fuel fabrication plant to be built abroad. JSC TVEL intends to participate in a tender to be held in Ukraine to choose a partner for plant construction. Besides this the Russian nuclear fuel manufacturer has managed to considerably succeed in negotiations concerning this project with other European countries. The license agreement to transfer the technology of stainless fuel assemblies’ fabrication to Ukraine is being successfully implemented. The first qualification consignment is planned for 2010.

JSC TVEL has continued cooperation with a Canadian state company AECL (Atomic Energy of Canada Limited) to qualify OJSC ChMZ as the supplier of pressure tubes for CANDU reactors. In 2010 OJSC TVEL is planning to sign a contract to supply pressure tubes for Canada to be used in modernization technology for this reactor type designed and exported by AECL.

In 2009 a contract with South Korean company KNF to supply a qualification consignment of Korean HANA zirconium alloy tube shells.

Press-service of Atomenergoprom

]]> Tue, 22 Dec 2009 12:42:00 +0300 JSC TENEX has ultimately terminated GNSS company’s attempts to charge in excess of $ 1bn from the federal budget http://www.atomenergoprom.ru/en/press/news/2009/12/item1128.html 18 December the Svea Region (Sweden) Court of Appeal dismissed the claim of Globe Nuclear Services and Supply GNSS, Limited to discharge the decision passed by International Commercial Arbitration in Stockholm (Sweden) in favor of JSC TENEX (JSC Atomenergoprom’s 100% affiliate). The decision of the Court of Appeal is final and not subject to any appeal. The Court of Appeal of Sweden thus approving of the decision passed by the arbitration, terminated the legal process that had lasted for more than 6 years since November 2003 and had been initiated by GNSS in order to charge over $ 1bn from the Russian budget.

The claim to charge about $ 1bn of allegedly lost profit was issued by GNSS in November 2003 as a result of suspended supplies of uranium under a contract signed pursuant to a Russia – USA intergovernmental agreement to use highly enriched uranium (HEU-LEU Agreement).

In 2003 Ministry of the Russian Federation for Atomic Energy carried out a comprehensive audit of HEU-LEU Agreement performance and concluded that the system of contracts signed in the 1990-s with a group of western companies and GNSS is subject to revision in order to ensure using part of uranium sold for cutting back nuclear weapon material.

The group of western companies agreed to alter the contract and reduce the amount of sales after a few months of negotiations. But GNSS opposed this position filing claims to a US Court and to International Commercial Arbitration against JSC TENEX. The US Court dismissed GNSS’s claim in 2004.

In June 2007 the Court in Stockholm rendered JSC TENEX’s actions as lawful. Alongside with this the Court admitted the documents filed by JSC TENEX from Russian and US investigation authorities concerning owners and officers of GNSS who were simultaneously employed by Rosatom and its affiliated companies. The Arbitration admitted that these documents testify signing a contract as a result of collusion to transfer public funds received from the sale of uranium to private persons.

“Russian nuclear industry does not need any intermediaries, though unfortunately such things occurred in the past” – said Sergey Kiriyenko, general director of State Atomic Energy Corporation Rosatom, chairman of the board of directors of JSC Atomenergoprom commenting on the decision passed by the Swedish court. “This decision represents the triumph of truth”- he added.

“Despite the intermediary schemes used in foreign trade in the past Rosatom has now switched to direct sales” – noted S. Kiriyenko.

Note:

HEU-LEU Agreement was signed in 1993 and is an international initiative in the field of “real” disarmament process: the agreement stipulates irreversible reprocessing of Russian weapon-grade uranium into nuclear fuel for the US NPPs. The agreement was signed for 20 years, until 2013, and sets out reprocessing 500 tons of weapon-grade uranium which equals to 20,000 scrapped nuclear warheads. The Agreement is implemented via a system of contracts that return full revenue into the RF budget. In 1993 – 2009 the revenue is $ 8.8bn. The executive authority for the Agreement from the Russian Federation is Rosatom; OJSC TENEX is its agent for uranium supply at the global market within the framework of the Agreement.

JSC TENEX is a major operator in the international market of goods and services for nuclear fuel cycle meeting over 40% needs of foreign NPPs in uranium enrichment services... The company has 45 years’ experience in foreign trade. 100% shares of the company are held by JSC Atomenergoprom.

Press-service of Atomenergoprom

]]> Tue, 22 Dec 2009 12:41:00 +0300 The first two series of JSC Atomenergoprom’s bonds have been placed on MICEX http://www.atomenergoprom.ru/en/press/news/2009/11/item1051.html JSC Atomenergoprom’s 1 and 2 series bonds with a total nominal value of RUR 50bn were placed on MICEX Stock Exchange on 11.26.2009.

RUR 50bn were placed out of 60bn claimed before by the decision of JSC Atomenergoprom which is subject to the industry’s current need for borrowed resources.

The amount of RUR 50bn placement is conditional upon the amount of JSC Atomenergoprom affiliates’ short-term loans as of the end of November subject to refunding under better terms as on both the rate and the date.

As a result of further bond placements, JSC Atomenergoprom is planning to refund the residual loan portfolio as well as to attract money in оrder to finance investment programs of State Atomic Energy Corporation Rosatom.

The bonds are placed by public subscription book-building. Sberbank of Russia is the organizer and technical underwriter.

The bonds have five annual coupons with the maturity term expiring on February 15, 2014. The 1st bond coupon rate of JSC Atomenergoprom’s both series equals to 11.5% per annum. Rates of further coupons will be determined as a fixed rate of the Bank of Russia for direct repo operations for a term of 1 year increased by 2.25% per annum. In case of the absence for whatever reason of one year fixed direct repo rate, the rate for the relevant bond coupon is estimated as a one day fixed direct repo rate of the Bank of Russia increased by 2.75% per annum.

All bond issues are guaranteed by State Atomic Energy Corporation Rosatom. According to the terms of placement up to 10 series are planned to be issued for a maximum of RUR 195bn. The remaining 8 bond series will be placed when the need arises during 2009-2010. As on the conditions of issue the emitter has the right for an early bond calling.

The attracted funds will be used to refinance short-term loans obtained by the industry’s enterprises and to finance part of investment program of its affiliates and Rosatom’s enterprises in 2009-2010.

JSC Atomenergoprom PR Department

 

 

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