11 September 2012

Atomstroyexport Claims €1 Billion in Compensation for Belene

The Russian nuclear builder Atomstroyexport has announced on 11 September 2012 that it is to claim “not less than €1 billion” from the National Electricity Company of Bulgaria (NEC) in compensation for the termination of the Belene project (see Bulgarian Government Abandons Belene Nuclear Project) as most of the large components, including the pressure vessels, steam generators and pressurizers had been completed or were nearing completion. Many other components had also been fabricated and were ready for delivery to the Belene site where construction had officially been ongoing since 1987. The case is to be handled by the International Court of Arbitration in Paris. Belene is the latest of dozens of reactor building projects that were abandoned at late stages of construction over the past decades.