Putin orders Russia nuke energy overhaul

MOSCOW, April 27 (UPI) -- Russian President Vladimir Putin signed an ordinance Friday aligning the country's entire nuclear industry under one state-owned company.

The Itar-Tass news agency quoted a source at the Federal Atomic Energy Agency as saying the holding will be called Atomenergoprom. The process of consolidation will be complete by next January, and Atomenergoprom will be wholly owned by the government.

Joint stock companies, which will make up the holding, will be registered by July 1, Itar-Tass reported. "Fifty-five unitary enterprises will be corporatized and included in the holding by Dec. 1," it said.

All enterprises and companies that produce atomic energy machinery, build and operate nuclear power plants, produce and enrich uranium and make nuclear fuel will be incorporated in the holding.

The move, which has been in the works for some time, will likely further bolster Moscow's stance as an energy superpower.

Russia has by far the largest reserves of natural gas and is the No. 2 producer of oil. And while the state's arms stretch farther into European and Asian oil and gas markets -- both as a supplier and operator -- its nuclear industry is making its own headway.

Russia -- as part of the Soviet Union -- and the United States were the first countries in the atomic field. While the U.S. nuclear industry has slowed over the past few decades, Russia hasn't. The state owns part or all of dozens of nuclear-related firms and their subsidiaries, from nuclear plant construction to operations to mining, enriching and delivering the fuel.

It plans to nearly double its own nuclear electricity output, and is building plants and delivering fuel to numerous countries.