The Russian government has announced an accelerated investment drive in nuclear power development.
Prime Minister Dmitry Medvedev chaired a special meeting at Novovoronezh nuclear power plant this week where the focus was on economic modernisation and innovation.
State nuclear corporation, Rosatom plans to invest $737m in research and development per year, as part of an annual state budget for nuclear programs set to reach $1.9bn.
The head of Rosatom, Sergei Kiriyenko, told the meeting that plans foresee the figure for research and development reaching $1.3bn in 2020.
According to Nuclear Engineering International this is about ten times its value in 2007 when the country began consolidating its nuclear activities within Rosatom.
Rosatom’s long-term strategy up to 2050 involves moving to inherently safe nuclear plants using fast reactors with a closed fuel cycle and MOX fuel.
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