Credit line for BelNPP construction opened until 2035

MINSK, 11 April (BelTA) – The credit line for the construction of the Belarusian nuclear power plant has been opened until 2035, Belarus' Deputy Energy Minister Mikhail Mikhadyuk said in an interview to the Lithuanian TV and radio broadcasting company LRT, BelTA has learned.

Before taking the Russian loan for the construction of the nuclear power plant, the Belarusian Energy Ministry, together with the Finance Ministry, calculated the possibilities of returning it.

“Over the past few years, $10 billion has been invested in the Belarusian energy system. Thanks to this, we have developed the most efficient energy sector in the post-Soviet space and provide timely payments on the loans raised for the work,” said Mikhail Mikhadyuk. The credit line [for the construction of the BelNPP] has been opened until 2035, and we have assessed our potential,” he added.

The deputy minister explained that it is too early to speak about the final amount of the loan for the construction of the nuclear power plant. “We have a loan of up to $10 billion, and it covers 90% of the cost of the contracts to build the facility. Belarus needs to invest the rest. The real cost of the station is determined by the concrete costs for its construction, which are financed from the abovementioned sources on the basis of the corresponding documents. We calculate each ruble invested in the construction. We control the expenditure of funds, so that there were no unnecessary, unreasonable payments and expenses, exceeded prices for equipment. We monitor the cost of similar equipment around the world and do not purchase it at the highest price. Good reliable equipment is purchased,” Mikhail Mikhadyuk said.

The Belarusian nuclear power plant is being built using the Russian standard Generation III+ design AES-2006 near Ostrovets, Grodno Oblast. The first power-generating unit is scheduled for commissioning in 2019, with the second one to go online in 2020.