Jordan in talks with Russia on financing solutions for nuclear reactor | Editor's Choice | Ammon News



Jordan in talks with Russia on financing solutions for nuclear reactor


[8/17/2017 11:45:00 AM]

AMMONNEWS - Jordan on Wednesday said talks were still ongoing with Russia to secure the best financing solutions to build the country's first nuclear power plant.

The Jordan Atomic Energy Commission said in a statement that the two countries were still committed to the project to build a nuclear power plant in Jordan with two reactors each having a capacity of 1,000 megawatts.
Russia's Rosatom, the state atomic energy corporation, has been keen on implementing the project since its inception and is involved in the project with all its technical and financial aspects, the commission said, quoted by the Jordan Times.

The commission's statement came following some local reports claiming that the Russian company was looking into withdrawing from the project and it has already submitted a request to Jordan in this regard.

The commission said technical studies related to the project were completed as well as other studies, emphasizing that the project will not put any burden on the treasury.

Early 2017, Jordan and Russia have floated tenders to attract bids for supplying turbines and electrical systems for the kingdom's first nuclear power plant.

Jordan will secure 1.5 billion U.S. dollars and Russia will do the same for building the plant, which is estimated to cost 10 billion dollars. The rest will be financed by banks and funds.

In March 2015, Jordan signed an inter-governmental agreement with Russia to build and operate the nuclear power plant. Russia's Rosatom will own 49 percent of the project.

The first reactor is expected to be operational in 2025.

Energy-poor Jordan imports about 97 percent of its energy needs annually.

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