14:15 15.02.2018

Ambassador Chaly attends signing of documents to finance construction of spent nuclear fuel storage facility

2 min read
Ambassador Chaly attends signing of documents to finance construction of spent nuclear fuel storage facility

Ukrainian Ambassador to the United States Valeriy Chaly, together with President and CEO of the U.S. Overseas Private Investment Corporation (OPIC) Ray Washburne and President of Energoatom Yuriy Nedashkovsky, has attended the ceremony on signing documents related to the financing of the construction of the centralized spent nuclear fuel storage facility in Ukraine.

A report posted on the Facebook page of the Ukrainian Embassy in the United States on February 14 says that the storage facility will store nuclear fuel from three nuclear power plants in Ukraine.

"In accordance with the agreement, Bank of America Merrill Lynch arranged the placement of fixed-rate bonds on the U.S. stock market for borrowing $250 million in political risk insurance from OPIC. Energoatom will receive a 20-year loan for the relevant amount. Energoatom and U.S. company Holtec International began the construction of the storage facility in November 2017," the report says.

The ambassador said that the project for the construction of the centralized spent nuclear fuel storage facility was being implemented jointly with U.S. partners and was "an important step towards strengthening Ukraine's energy security."

"The project not only enhances our energy security, but also has a significant positive social and economic effect, in particular, creating new highly paid jobs in Ukraine. After the construction of the storage facility, Ukraine will save considerable funds by refusing to transport and store spent nuclear fuel in Russia," Ukraine's Embassy in the U.S. said.

AD
AD
AD
AD
AD