Rosenergoatom to attract investments beginning 2004

According to the estimates of Rosenergoatom, it will be able to attract investments into the Russian nuclear energy sector beginning 2004, Oleg Sarayev, President of Rosenergoatom, said to journalists today. He was quoted as sating that it will be possible after the free electric power market starts operating in Russia. "Rosenergoatom does not look attractive for investors, since it is a wholly state company, and not a single investor will find it interesting until he can get a stake in its capital", Sarayev stressed. The President of Rosenergoatom also expressed hope that when the free electric power market emerged in Russia, the legislation covering the nuclear power sector would be changed to enable Rosenergoatom to attract investors. All projects are currently financed at the concern's cost, since the tariffs of the company include investments.

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