The leaders of Turkey and Russia marked the official start of work to build Turkey's first nuclear power plant on Tuesday, launching construction of the $20 billion Akkuyu power station in the southern province of Mersin.
The plant will be built by Russian State Nuclear Energy Agency Rosatom and will be made up of four units each with a capacity of 1,200 megawatts.
Russian President Vladimir Putin and Turkish President Tayyip Erdogan marked the official start to construction of Akkuyu's first unit, watching by videolink from the Turkish capital Ankara.
"When all four units go online, the plant will meet 10 percent of Turkey's energy needs," Erdogan said, adding that despite delays Turkey still planned to start generating power at the first unit in 2023.
The $20 billion, 4,800 megawatt (MW) plant, is part of Erdogan's "2023 vision" marking 100 years since the founding of modern Turkey and is intended to reduce Turkey's dependence on energy imports.
However, since Russia was awarded the contract in 2010, the project has been beset by delays.
Last month, sources familiar with the matter said Akkuyu was likely to miss its 2023 target start-up date, but Rosatom, which is looking for local partners to take a 49 percent stake in the project, said it is committed to the timetable.
The Interfax news agency later cited the head of Rosatom saying that the sale of the 49 percent stake was likely to be postponed from this year until 2019.
Turkish companies have been put off by the size of the financing required as well as by concerns they will not receive a sufficient share of the lucrative construction side of the deal, two industry sources have said.
Putin is on a two-day visit to Turkey from Tuesday where he will meet Erdogan and Iranian President Hassan Rouhani for a summit on Syria.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
