You're reading: Russia, Ukraine may set up JV to enrich uranium on Russian territory

SMOLINE - Russia and Ukraine are discussing the creating of a joint venture for the conversion and enrichment of uranium on Russian soil, the head of Russia's state nuclear power corporation Rosatom, Sergei Kirienko, has told the press.

The two countries already have a JV in Ukraine for the fabrication of
nuclear fuel, in which Ukraine holds the controlling stake. If the
enrichment JV in Russia is set up, Russia will have control, Kirienko
said.

Ukrainian Energy and Coal Industry Minister Yuriy Boiko has confirmed
that the countries are interested in integration in the field of
converting and enriching uranium, as Ukraine has undertaken not to
perform such operations at home.

The general director of Ukrainian state company Nuclear Fuel, Tetiana
Amosova, said that her company and Rosatom plan to sign an agreement in
the coming days with Deloitte & Touche for an estimate of assets,
which might be injected in the potential JV. She said that the estimates
will take three to four months.

Amosova added that Ukraine’s involvement in the International Center
for the Enrichment of Uranium (in which Russia is a controlling
shareholder) has ensured a guaranteed supply of enriched uranium to at
least one Ukrainian power block. The formation of a JV would help ensure
the guaranteed supply to all Ukrainian nuclear power plants (NPPs).

There was on Thursday a ceremony marking the start of construction of
a joint Russian-Ukrainian plant for the production of nuclear fuel in
Ukraine. Russia has assumed responsibility for the uninterrupted supply
of uranium enrichment services to the future plant.