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Iran, Russia each say nuke reactor cash-flow problems are solved

SPECIAL TO WORLD TRIBUNE.COM
Thursday, April 5, 2007

NICOSIA — Iran and Russia have set yet another round of talks to revive the nuclear reactor project at Bushehr.

Iranian officials said the delegation of the representing the state-owned prime contractor, Atomstroiexport, would discuss a timetable for the start of the 1,500 megawatt Bushehr nuclear reactor operations.

In March, Iran relayed about $23 million to Atomstroiexport, the first complete monthly payment to the contractor since September 2006. Iran said it has already paid more than 90 percent of the $1 billion project, but Atomstroiexport has sought additional funding, Middle East Newsline reported.

"In the next two or three days, the Russians will come to Teheran to sign an agreement to solve the financial problems of Atomstroiexport," Iranian Atomic Energy Organization director Gholam Aghazadeh said on April 3.

"The Russians have told us that since their company does not have money 'You need to help us financially,'" Aghazadeh said. "A framework has been found to solve their financial problems."

In September 2006, Russia pledged to begin initial operations at Bushehr in September 2007 and full operations two months later. Officials said this would have required the first shipment of nuclear fuel in March 2007.

The state of the Bushehr project has not been clear. In March, Russia announced a suspension of the project and the return of many of the 2,000 Russian employees at Bushehr. But Aghazadeh said 3,000 Russians remain working at Bushehr.

"The aim of the scheduled talks is to ensure stable and sufficient financing of the Bushehr power plant construction," Atomstroiexport spokeswoman Yesipova Yesipova said.

But officials said Iran's failure to meet its repayment schedule led to delays. They said the project would probably not be completed in 2007.

"It is a good thing that our Iranian colleagues have overcome their difficulties in payments for the Bushehr plant," Sergei Kirienko, director of Russia's Atomic Energy Agency, Rosatom, said. "And we hope that in the future Teheran's payments will come in accordance with the agreed schedule."

In the first quarter of 2007, Kirienko said, Russia received $15 million from Iran, two-thirds of which arrived at the end of March. He said Teheran was committed to paying around $25 million per month to Moscow.

Atomstroiexport has expressed interest in bidding for an Iranian project to construct another 10 nuclear reactors. Iran has pledged to launch a tender by August 2007 to generate 2,000 megawatts out of a proposed 20,000 megawatts of nuclear power.

"Our interpretation is that the delay of the fuel delivery is a political one," Aghazadeh said. "But all in all they know we intend to build more nuclear power stations, and Iran is a sure market for them."


Copyright © 2007 East West Services, Inc.

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