A Russian state-owned company signed a $9.1bn loan deal with Gazprombank in August to fund the construction and development of Turkey’s Akkuyu nuclear power plant, according to the official documents.
In a public announcement on Wednesday, Rosatom Corp published the deal signed on 3 August, which opens a line of credit to finance Akkuyu Nuclear JSC, its subsidiary in Turkey.
The official documents suggest the money would be used for the following:
- $7bn for construction and operation of a nuclear power plant at the Akkuyu site, including four power units with VVER-1200 reactors
- $1.6bn for financing the acquisition and development of a uranium deposit in Kazakhstan
- $500m for financing expenses for the acquisition and development of lithium assets
The draft deal published in July included a special section suggesting that the intended use of the credit line would be “temporary placement in deposits, purchase of dollar bonds of the Ministry of Treasury and Finance of the Republic of Turkey”.
Read more: Middle East Eye
