NUCLEAR PLANT MAY DRAW BILLIONS IN INVESTMENT.

Russia and Canada plan to agree this week on joint construction of a new atomic power plant in the Primorye territory of Russia’s far east, according to Atomic Energy Minister Viktor Mikhailov. Canada’s participation in this project will help to attract Western investments amounting to $1-2 billion, Mikhailov hopes. The total price tag on the new atomic station totals $4-5 billion. Mikhailov pointed out that the Canadian Kandu reactor to be installed at this atomic power station is similar to the Russian RMBK high-power graphite-moderated reactor, which should make supplying fuel to the energy site much easier. (8)

Canada’s participation in this project is one of the fruits of Prime Minister Viktor Chernomyrdin’s recent visit to Ottawa (October 4-6). South Korea, China, Japan, and United States are supposed to participate in financing the project. Local Russian industry is to contribute 80 percent of the equipment and to do most of the construction work. At present, Russian and Canadian experts are preparing a $2-3 million feasibility study for the Primorye power station project. The goal is to have the project pay for itself by exporting electric power to Korea and China.

Baltin Sets Sail