Russia To Begin Due Diligence On Turkish Akkuyu Partners

5 Sep (NucNet): Rusatom Energy International, a subsidiary responsible for international projects for Russian state-owned nuclear corporation Rosatom, is to begin due diligence of the three Turkish holding companies that are planning to buy a 49% stake in the planned Akkuyu nuclear power station project, reports in Russian media said. The business daily Kommersant said a consultancy will be chosen this month to carry out legal, financial and tax audits of the companies in the Turkish consortium. The report said the consultancy will carry out a “reputational analysis” of the companies. The value of the consultancy contract will be around €300,000 ($360,000), Kommersant said. In June 2017, Rosatom agreed to sell a 49% stake in Akkuyu Nuclear, the joint stock company developing Akkuyu, to a consortium consisting of Cengiz Holding, Kolin İnşaat Turizm Sanayi ve Ticaret, and Kalyon İnşaat. According to official information at the time, the signing of a final investor agreement for the project was expected before the end of 2017. The €20bn ($23.7bn) Akkuyu nuclear station, near Mersin on Turkey’s southern Mediterranean coast, is to be built in cooperation with Rosatom under a contract signed in 2010. The station will have four 1,200-MW VVER units with the first expected to come online in 2023.