OREANDA-NEWS. On the 12th of November 2013 the Fuel Company of ROSATOM TVEL transferred USUSD  42 Million to the bank account of the joint venture, Private Joint Stock Company “Nuclear Fuel Fabrication Plant in Ukraine. The FC TVEL used in full its pre-emption right to pay in to ensure timely implementation of the project and conduct of priority measures. The money already arrived at the JV bank account. An additional issue of shares should be completed before the end of this year. The Ukrainian shareholder has to put in the similar sum before December 31, 2013 for the issue to be acknowledged valid.

The new issue of JV shares will help to finance main construction activities on the site, which should start in the second quarter of 2014. Besides, non-standard equipment invoices will be paid as well as the full-scale licensing of the project. A part of funds will be allocated for writing the working documentation and implementation of socially significant projects in Kirovograd Region.

At the meeting of the project Control Panel held on November 8 in Kiev, Minister of Energy and Coal Industry of Ukraine Eduard Stavitsky informed on additional measures taken by the ministry to solve the financial issue. FC TVEL Director of Department Oleg Grigoriev expressed his confidence that the Ukrainian shareholder would be able to settle all issues to provide its cash share on due dates.

Alexander Merten, General Representative of ROSATOM in Eastern Europe and Vice President of Rusatom Overseas, appraised consistency and integration of actions of the Russian and Ukrainian parties in implementing the project. “The topicality of having the plant for Ukraine is confirmed by attention to this project paid at the highest level. On its part, the Russian party, as the second shareholder of the plant, not only keeps up with the timeframe but fulfills commitments it undertook ahead of schedule,” he emphasized.

To remind, Eduard Stavitsky stated that construction of the nuclear fuel fabrication plant in Ukraine will be the main tool of diversification of fuel supplies for Ukraine’s nuclear power plants.