Today's big stories from the nuclear industry:
Moscow Will Fund Bulgarian Power Plant
‘Moscow is prepared to fund most of the construction of a 4 billion euro ($6 billion) nuclear power plant at Belene in Bulgaria, Energy Minister Sergei Shmatko said Friday, as Russia tries to sweeten a deal that Sofia has put under review. "We think it is important to ensure steady work on the Belene project in the next year or two," Shmatko said. "We are considering possibilities to take on the main financial burden, including the option of equity participation. We are interested in the success of this project and are prepared to take certain risks." Shmatko was speaking after a two-day session of the Bulgarian-Russian economic cooperation commission, which discussed joint energy projects including the Burgas-Alexandroupolis oil pipe and the South Stream gas link. RWE, Germany's second-largest utility, withdrew from the 2,000-megawatt nuclear power-plant project on the Danube River after the country declined to provide state funding. Atomstroiexport was chosen in 2005 to build the plant, with Areva and Siemens as subcontractors. Construction was delayed as the global financial crisis hindered financing. Bulgaria said it can sell half of its 51 percent stake in the project.’
India - Foreign nuke companies want rule changes
companies from the US, Russia and France, as well as Indian power majors, have unanimously appealed to the Government of India (GoI) for various changes in the rules to facilitate foreign and private sector investment. They want amendment of the Atomic Energy Act, 1962 and rule changes to allow external commercial borrowing in the nuclear sector. Also, issuance of guidelines by Reserve Bank of India for transfer of technology and change in the Custom Tariff Act, where certain equipment and substances are on a negative list. These companies, who are keen to tap the opportunities in India's nuclear sector, which is expected to have generation capacity of 63,000 Mw by 2032 from the present level of 4,120 Mw, have made these pleas in recent meetings with the government. So far, the state-run Nuclear Power Corporation has tied up for two reactors from the US for projects in Gujarat and Andhra Pradesh, while Russia is to supply the reactor for the Kudankulam project. Besides, French major Areva has proposed to supply two reactors of 1,650 Mw each for NPC's projects in Rajasthan and Maharashtra. Indian companies such as Tata Power, Reliance Power, GMR, Lanco and a couple of others have been holding talks with the foreign companies, as they are not allowed to develop nuclear projects independently, unless the Atomic Energy Act is amended.’
White House: Iran's Latest Nuclear Offer Insufficient
‘Obama administration officials weren't impressed by Iran's weekend offer to trade its uranium in small batches, saying the offer wasn't sufficient to head off possible new sanctions. Iranian Foreign Minister Manouchehr Mottaki on Saturday said Iran was prepared to exchange 400 kilograms (882 pounds) of uranium for an equivalent amount of enriched uranium. That was one-third the amount that it had agreed to swap under a proposed deal hammered out with U.S., French, Russian and International Atomic Energy Agency negotiators earlier this year. That deal called for Iran to ship out the bulk of its low-enriched uranium, to be further enriched outside the country and then shipped back to Iran for use in a medical-research reactor. Mottaki told Iranian news agencies that Iran would exchange the remainder over several years. U.S. officials on Sunday said Mr. Mottaki's comments wouldn't alter the Obama administration's plan to begin imposing new economic sanctions on Iran by year-end.’
Mottaki unclear about Turkey's role in nuke issue
Foreign Minister Manouchehr Mottaki has given an ambiguous response to questions on Turkey's possible role in the dispute surrounding his country's controversial nuclear program, as he underlined Tehran's determination to press ahead with the program the West suspects is aimed at making bombs. Mottaki, addressing a security conference in Bahrain on Saturday, also cast further doubt on a UN-drafted nuclear fuel deal meant to allay international concerns about the Islamic Republic's atomic ambitions. When asked in Manama if Saudi Arabia or Turkey should join talks between Iran and the six major powers -- the United States, Britain, France, Germany, China and Russia -- Mottaki said: "There is no limit to the members of 5+1. We believe other countries from the region could participate in the talks." His comments came after Turkish Prime Minister Recep Tayyip Erdogan said last week during an interview broadcast on Bloomberg Television that Ankara could play "a very important role between Iran and countries of the world."’
Varun Energy acquires Madagascar uranium mines
‘Varun Energy Corporation, a group company of steel exporter Varun Industries Limited, has acquired uranium mines in Madagascar, an island nation in the Indian Ocean. Varun Energy is one of the first private Indian companies to acquire rights directly in this business. Madagascar has high concentration of uranium, besides thorium and gold. The group acquired 1,111 blocks covering 6,900 sq km with estimated reserves of 1,700,000 tonne of uranium, 4,350,000 tonne of thorium and traces of gold for exploration, exploitation and output sale. Varun is present in Madagascar as Varun International SARL and Madagascar Energy Corporation with 67 per cent stake in both companies. Kiran Mehta, CMD, Varun Group, declined comment. Varun Industries, with a turnover of Rs 1,400 crore, through its subsidiaries and associate companies has diverse interests globally in areas including gems and jewellery, oil and natural gas, mining and energy. The company was listed in 2007. It is also into retailing of stainless steel products under the brand name Varun. The group's foray into uranium offers tremendous growth potential, as current demand for the heavy metal as a commercially viable alternative fuel for generation of nuclear energy far outstrips supply.’
Radioactive leak in Severodvinsk
‘Two cubic meters of liquid radioactive waste leaked out from a pipe at the treatment facility at Zvezdochka naval yard last Thursday. The leakage from the pipe going between a storage tank and the treatment facility for liquid radioactive waste was stopped. Two hours later the liquid radioactive waste, contained in a leak-proof tunnel, was cleaned up, according to the website of Zvezdochka. The reason for the leak is unclear, but investigation is under way, says Zvezdochka. The radiation levels is said to not to exceed background levels. Zvezdochka is engaged in dismantlement of older nuclear powered submarines and repair and maintains of operating submarines.’
India to supply low-cost nuclear parts for export
‘MUMBAI, India - GE Hitachi Nuclear Energy Ltd. and Westinghouse Electric Co. plan to use India as a low-cost supplier of nuclear parts for export to the U.S. and Europe, executives said this week. "We see India as a very good supply chain for us to supply our world market," said Daniel Roderick, senior vice president at GE Hitachi Nuclear Energy, an alliance between General Electric Co. and Japan's Hitachi Ltd. based in Wilmington, N.C. The decision was driven by cost pressures both companies face as they prepare to build nuclear reactors in India, and it would not have been possible if the 45-nation Nuclear Suppliers Group had not lifted a three-decade global ban on nuclear trade with India last year. In order to keep costs low enough to supply cost-competitive power to India, GE Hitachi said it plans to localize up to 70 percent of production, while Westinghouse plans to use local manufacturing and labor for up to 80 percent of its India work.’