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Mikhadyuk: Smooth financing of Belarusian NPP project
19.04.2016
The project to build the Belarusian nuclear power plant is financed on schedule, Belarus Deputy Energy Minister Mikhail Mikhadyuk told reporters on the sidelines of AtomExpo on 19 April.
“The financing is provided on schedule as the works are executed,” the Deputy Minister said. He did not specify the amount of funding allocated in 2016.
As was previously reported, the fluctuations in the exchange rate of the Russian ruble will not affect the schedule of the NPP construction in Belarus. Financing of the construction project has been smooth. The contract on the construction of the nuclear power plant in Belarus has been set in U.S. dollars. The loan allocated by Russia has been denominated in U.S. dollars. The contract stipulates that the cost of works and equipment are determined in Russian rubles, with the subsequent exchange into U.S. dollars at the end of every month.
In 2015, the funds were spent mainly on the construction works and equipment manufacturing. The plans were to invest about $630 million in the project, with $570 million from the Russian loan. The construction of the plant is strictly on schedule. No official data on the amount of funds utilized over the past year has been released yet.
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