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Russian nuke company strikes deals


Published: Dec. 18, 2007 at 2:16 PM
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MOSCOW, Dec. 18 (UPI) -- Russian nuclear fuel producer TVEL said it plans to sign contracts with a European company and a U.S. company to promote nuclear fuel in non-Russian markets.

The state-run corporation has developed a new type of fuel assembly for use with reactors typically used in the West, RIA Novosti reported Tuesday. The contracts are expected to be signed in early 2008.

"We plan to sign an agreement with General Electric to promote our fuel on the U.S. nuclear power plant market," TVEL President Yury Olenin said in a statement."We believe the situation is ripe for a major breakthrough on the U.S. market."

G.E. would license the Russian nuclear fuel in exchange for receiving TVEL's technology, he said.

Olenin expressed optimism about TVEL's prospects in European markets, saying the company TVEL received technical documents for fuel licensing from a European company, but declined to name the company, the Russian news agency said.

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