Turkey close to $20bn nuclear plant announcement

Turkey is about to make a decision on the awarding of its new nuclear power plant at Sinop, on the Black Sea.

Earlier Nikkei Business Daily stated that Mitsubishi Heavy Industries and Areva (EuronextCEI) had won the contract to construct the $20bn 4.5 GW plant, but that decision is not yet clear.

Ankara is insisting that either the developer or its home country make financial guarantees as part of its contractual obligations

Russia has already agreed to those terms in building Turkey’s first such plant on the Mediterranean (in return for guaranteed energy prices) and observers speculate that the decision by the French government to drop opposition to Turkey’s EU membership is being seen in a favourable light by the Turkish government.

Turkey wanted to build a nuclear power plant that could resist a magnitude nine earthquake.

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