OREANDA-NEWS. TVEL Fuel Company (a part of Rosatom State Corporation) has transferred USD 42 mln to the account of the joint venture - Nuclear Fuel Plant in Ukraine, Private Joint-Stock Company. TVEL has exercised its preferential right to credit the monetary means in order to ensure on-time project implementation and execution of the top-priority measures to the fullest extent. The means have already been credited to the JV's settlement account. Additional issue of shares shall be completed by the end of the current year. In order to deem this issue accomplished the Ukrainian JV shareholder, Nuclear Fuel State Concern, shall invest the same amount into the JV until December 31, 2013.

This new issue of the JV's shares will finance the main construction works at the site that are to be launched in the Q2 2014. Moreover, thus the invoices for nonstandard equipment will be paid, and the project will undergo proper licensing. A part of the means will be allotted to the elaboration of the specification documentation and implementation of socially important projects in Kirovograd Region.

In a session of the Project Operation Headquarters, which was held on November 8, in Kiev, Eduard Stavitski, Minister of Energy and Coal Industry of Ukraine, elaborated on additional ministerial measures to address the financial issue. Oleg Grigoriev, Departmental Director of TVEL JSC, expressed his confidence that the Ukrainian shareholder would be able to settle all issues in order to provide its share of the monetary means in a timely manner.

Aleksander Merten, Vice President of Rusatom Overseas CJSC, a general representative of Rosatom State Corporation in Eastern Europe, emphasized accuracy and cohesiveness of the Russian and Ukrainian parties operation during the project implementation. “Attention paid to the project at the highest level confirms that Ukraine really needs this plant. In its turn, the Russian party, as the second venture shareholder, not only meets the deadlines, but fulfills undertaken obligations ahead of schedule,” Aleksander Merten stated.

Earlier Eduard Stavitski announced that the construction of the nuclear fuel plant in Ukraine would become a main tool for diversification of fuel supply to the Ukrainian NPPs.