Russia to lend Vietnam $10b to build nuclear power plant


February 14, 2012

Sergey A. Boyarkin – deputy general director of Rosatom Group – direct partner to build Ninh Thuan 1 nuclear power plant said that Russia will give Vietnam $10 billion loan with preferential interest rates to build Ninh Thuan 1 nuclear power plant.

Ninh Thuan 1 nuclear power plant located in Phuoc Dinh commune, Thuan Nam district, in the central province of Ninh Thuan will be kicked off construction in 2014 and the plant’s first generator is expected to start operation in 2020. The first plant will use Russian technology.

Sergey A. Boyarkin confirmed Russia-conducted Ninh Thuan 1 plant will be built using the 3rd generation nuclear reactor technology.

Currently, this technology is said to be the most modern in the world, applicable to both safety systems of electricity and non-electricity.

Sergey A. Boyarkin added, according to calculations, the price of one kilowatt capacity of plant is about $2,700. In Vietnam, the price will be more expensive by 10 percent due to costs related to transportation, but the maximum price will not exceed $3,000.

“However, currently, the location to build reactor has still not reached agreement, so the exact cost calculation for the whole project have not yet been completed. But, the total investment for two generators of Ninh Thuan 1 plant will not exceed $6 billion”, according to Rosatom.

According to calculations of Rosatom, in 2018, the operation of two generators of Ninh Thuan 1 plant will require 1,150 experts, including 300 nuclear experts.

Plant is under Ninh Thuan nuclear power project that was approved by the National Assembly, including two plants, each plant has 2 turbines with capacity of 2,000 MW each.

Petr G. Shchedrovitsky, advisor of the general director of Russia’s state-owned Rosatom atomic energy group, said that the design of reactor of the Ninh Thuan Nuclear Power Plant satisfies the highest safety standards.

Some officials of Rosatom are now in Vietnam to discuss the next steps in Vietnam-Russia cooperation on nuclear power. They will work in Vietnam until February 11.

“Vietnam can be completely assured of Russian nuclear power safety standards. It is very difficult to have such an incident at Vietnam’s reactor like the one at Japan’s Fukushima plant” Petr G. Shchedrovitsky affirmed.

“Russian safety standards are always stricter than international standards. Nuclear power plants built by Russia are all absolutely safe. Designs of reactors are vigilant against all possible incidents,” he stressed.

In regards to the nuclear power technology used at Vietnam’s first nuclear power plants, he said that the technology is the new one, which is used by around 80 percent of nuclear power plant projects in the world.

He said Fukushima reactor was built 40 years ago while that of Vietnam will belong to the 3+ generation.

Many Vietnamese students are now trained for nuclear power technology in Russia. Last year 19 Vietnamese students were sent to Russia and this year the number is 70.



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