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Russia to allocate $1.5 billion for state nuclear corp. - Putin

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The Russian government will allocate 50 billion rubles ($1.5 billion) in additional capitalization for state nuclear corporation Rosatom, the prime minister said on Wednesday.
MOSCOW, April 15 (RIA Novosti) - The Russian government will allocate 50 billion rubles ($1.5 billion) in additional capitalization for state nuclear corporation Rosatom, the prime minister said on Wednesday.

Rosatom head Sergei Kiriyenko asked for the assistance earlier in the day.

"I believe it is possible to support the application of the Energy Ministry and Rosatom for the additional capitalization of the corporation to the tune of 50 billion rubles," Vladimir Putin said.

Putin said nuclear power plants should generate 25%-30% of Russia's electricity and pledged more allocations to the corporation, despite the ongoing economic crisis. He said 26 nuclear reactors were to be built to reach this target.

"These are difficult, but realistic tasks," Putin told a conference devoted to the nuclear power sector.

Putin said the investment program at Energoatom, a subsidiary of the Atomenergoprom holding that oversees Russia's civil nuclear industry, stood at over 160 billion rubles ($4.8 billion) this year, including 73.3 billion (about $2.2 billion) in state funds.

The company currently operates 10 nuclear power plants with a total of 31 reactors.

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