Work on the Akkuyu nuclear power plant in Turkey has reached a standstill. According to journalists, Russian personnel are returning home due to salary delays, and Rosatom is actively looking for investors to sell its stake. One of the main reasons is US sanctions.
Points of attention
- Rosatom is evaluating options to sell its 49% stake in the project while focusing its resources on completing the construction of the first reactor to potentially accelerate progress.
- Ankara has yet to fulfill Rosatom's requests for tax and financial benefits, further complicating the situation surrounding the Akkuyu nuclear power plant.
Rosatom lacks funds to continue construction
As Yeni Şafak learned, the Russian Rosatom, the contractor for the construction of the Akkuyu nuclear power plant, has faced extremely serious problems, primarily regarding financing.
What is important to understand is that about $7 billion, which the company was supposed to spend on the project, has not yet been allocated.
The Akkuyu NPP staff has been reduced from 35,000 to 12,000. In particular, 10 out of 14,000 Russian workers have returned to Russia due to salary delays. A significant part of the construction workers have been sent on unpaid leave. The remaining staff has been transferred to work on the construction of the first reactor.
According to the latest data, Rosatom is currently spending all its resources on completing the construction of the first reactor unit.
There is a high probability that revenues from the commissioning of the first unit could accelerate the construction of the other three.
Rosatom has allegedly requested some tax and financial benefits from Turkey for the implementation of the project, but Ankara has not yet fulfilled these requirements.
