Atomic Energy Ministry asks for more investments

The investment needs of the Russian atomic energy concern Rosenergoatom will reach 35bn rubles ($1.15bn) in 2004, Deputy Atomic Energy Minister Andrey Malyshev announced today at an enlarged meeting of the Union of Atomic Regions and Enterprises. Meanwhile, according to the deputy minister, the Russian Economic Development and Trade Ministry together with the Federal Energy Commission suggest keeping the volume of investments in the atomic energy sector at no more than 23bn rubles ($757m) in 2004. Taking into account the expected inflation rate, this means that investments in Rosenergoatom will be 6 percent less next year compared to 2003.

The Deputy Atomic Energy Minister noted that his ministry together with the Union of Atomic Regions and Enterprises was proposing the government to reconsider the atomic investment program and approve larger investments. Malyshev stressed that the concern's investment needs would increase from 22.2bn rubles ($731m) in 2003 to 70bn rubles ($2.3bn) by 2010.