OREANDA-NEWS. June 20, 2011. A joint venture of Russia and Ukraine on nuclear fuel production will be established within the current year.

TVEL Fuel Company Vice President Vasily Konstantinov reported to the journalists.

 “I suppose the joint venture (JV) to be established this year”, he said. According to him, at that time the process of regulations agreement was going on.

 “Many things we would like to provide there are connected with the fact that the project is a long-term one, for 60 years”, — he said. The project of the memorandum of the joint venture between “Nuclear Fuel” Ukrainian State Concern and TVEL OJSC had been agreed in Kiev in January, 2011.

 The Ukraine has no nuclear fuel of its own which is necessary for its four operating NPPs, and it is planning to create a cyclical turnaround. TVEL Rosatom Fuel Company became the Ukrainian party’s partner in construction of a plant on nuclear fuel fabrication in this country. The plant is to be constructed in the area of Zheltye Vody City of Dnepropetrovsk region.