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Investment boom ahead for nuclear industry

      RBC, 15.10.2007, Moscow 14:04:24.Russia's nuclear industry should be ready for investment growth which is planned to soar by a factor of 7-8 within the next two years, First Deputy Prime Minister Sergei Ivanov said at a meeting in Podolsk today. He reiterated that the federal target program for nuclear industry development makes a provision of an RUR18bn (approx. USD722m) investment until 2015, RUR10bn (approx. USD401m) of which has already been put to use.

      The program will secure RUR51bn (approx. USD 2.046bn) for 2008, while investment in the nuclear industry is expected to reach RUR90bn (approx. USD3.61) in 2009, which could create issues concerning effecient use of the funds.

      Ivanov stressed that Russia's nuclear industry had enough funds to construct two power units per year or more. However, the industry has yet to solve problems relating to mass production of nuclear power equipment and staff concerns.

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