OREANDA-NEWS. December 21, 2011. During the official visit of Russian President Dmitry Medvedev in the Czech Republic “ALTA Invest a.s.” (Czech Republic) and  TVEL Fuel Company (Russia), signed the founding documents of the joint venture company ALVEL - Center of engineering and technology services. The documents were formalized by Vladimir Plasil, chairman of the board of ALTA Invest and the president of TVEL Yury Olenin.

Center will focus on support of existing and prospective customers of TVEL and ALTA on the territory of the European Union member states.

Center key activities will be focused in the first stage on the localization of fuel related services for NPP’s in the Czech Republic and expansion of their complex to the other states. This will eventually allow TVEL to provide the best response to its customers’ needs. Center shall more intensively promote the the high-tech TVEL production, including new fuel types developed for the reactors of Western design, on the European market.

The Center will facilitate the scientific and technical support to the NPP operation, reload design, safety evaluation and licensing documents for the operated nuclear power plants, core operation monitoring and follow-up evaluation, development and upgrades of specialized computer codes and the overall evaluation of Russian fuel performance.

The Czech party will receive complex know-how in the area of nuclear fuel cycle for its domestic NPPs. Center could become a platform for training of specialists and education of students in nuclear field.

In the future, the Center of technology services will develop activities also in the non-nuclear areas.

At the moment the initial portfolio of projects is identified and a wide potential for its expansion exists, as well.

“Czech Republic has been chosen for implementation of this project because it operates in the nuclear community reputable fleet of PWR reactors of original Russian design in Europe, and expresses its firm commitment to continue in the development of nuclear power and electricity generation for the sake of economic stability and prosperity of the whole country and its people”, – said President of TVEL Yury Olenin.

“The project fits neatly into the current trends of the global nuclear industry, which are characterized by increasing accent on operation safety and localization of necessary know-how. The joint venture will provide high priority to this area. Services and performance provided by joint venture will conform to highes current international standards and requirements”, – noted vice-president of TVEL Vasily Konstantinov.

“The Center will bring together the Czech experience, technical knowledge and high level performance standards and advanced Russian technology represented by TVEL know-how. This step is a result of long term successful cooperation with our partner and boosters it to the qualitatively higher level”, – said Vladimir Plasil, ALTA Invest chairman of the board.

The majority package of the shares in joint venture will be controlled by the Czech company ALTA Invest. The company will begin its activities starting January 2012. ALVEL will be registered in the Czech Republic. The activities of the center will be carried out in firm accordance with Czech law and EU directives.