Building of the first Turkish nuclear power plant Akkuyu starts in first week of April - Finance and Markets

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The official start of the construction of first Turkish nuclear power plant Akkuyu will be the first week of April, according to the country’s Prime Minister Binali Yıldırım. The ceremony will be attended by Turkish President Recep Tayyip Erdogan and Russian leader Vladimir Putin.
The plans foresee the construction of a four PWR reactors with a capacity of 1,200 megawatts in the Mersin province on the Mediterranean coast. The price commented at this stage is 20 billion USD and the Akkuyu NPP is projected to be commissioned in 2023.
Earlier this month, Finance Apprise already informed that construction of Turkey’s first nuclear power plant will begin in 2018, but there were rumors that it will be delayed as Rosatom could not find local contractors. However, the Russian holding has denied this information.
Russia and Turkey signed the construction agreement of the Akkuyu nuclear power plant in early 2010.
The project will be implemented by the project company Akkuyu Nuclear. This will be the first nuclear power plant in the world to be built on the build-own-operate model. This means that the shareholders, the Russian side, will be committed to designing, building, servicing, operating and decommissioning the plant.