OREANDA-NEWS. July 16, 2012. Russia and Ukraine will establish two joint ventures: in nuclear fuel cycle and power machine engineering. Corresponding agreements were stipulated in a memorandum signed by Rosatom and Ukraine’s Ministry of Energy and Coal Industry concerning the integration and cooperation in the peaceful uses of atomic energy. The memorandum was signed basing on outcomes of the meeting of the Russian-Ukrainian intergovernmental commission on July 12.

The first joint venture is expected to deal with all stages of the front-end of NFC, i.e. from uranium mining through fabrication of fuel assemblies. The second JV will focus on manufacture of critical equipment for nuclear power plants. A source in Rosatom explained Nuclear.Ru that the Russian side will contribute “a share package of the Angarsk Electrolysis Chemical Complex” to the NFC joint venture and “the Ukrainian side will contribute Kharkov-based Turboatom to the machine engineering JV.” The issue of division of shares in both JVs “will be the subject of further consultations.”