DHAKA: Russia is preferred in the global market for its willingness to share knowledge in nuclear power technology, cheaper price and safety, says World Nuclear Association (WNA) in one of its research report, published recently.

The report further says that Russia is now world leader in fast nuclear reactor technology.

Russia is "moving steadily forward with plans for much expanded role of nuclear energy, including development of new reactor technology," the WNA said. It noted that the exports of nuclear goods and services are actually a “major Russian policy and economic objective."

Russia’s state-owned nuclear corporation- Rosatom recently announced that it will push through with plans to construct nuclear power plants overseas regardless of the country’s slowing economic growth.

With over $100 billion worth of international nuclear projects by Rosatom include 29 nuclear projects around the world and the company aims to increase the number to 34 through agreements currently being negotiated.

The latest deal was struck with Jordan to build its first nuclear plant, worth $10 billion, on March 24. It also has deals to build nuclear power plants in Finland and in Egypt, as well as a contract to expand Hungary's only operating nuclear power station in Paks.

Canada's AECL, French Areva and Japan's Mitsubishi are among Rosatom's competitors. Sergey Kondratyev, Head of Economics at the Institute for Energy and Finance, believes the Russian company's biggest advantage is that it offers lower costs.

Ivan Kapitonov, an academician at Russia's RANHIGS University, quoted by World Bulletin, says countries have been turning to Russia because of high standard of nuclear technology and security systems. "All Russia's projects are multi-layered and designed to withstand various risks such as plane crashes and terrorist attacks," Kapitonov said.

There are 437 active nuclear plants in 31 countries around the globe and 68 projects under construction in 14 countries.

Russia has 10 active nuclear plants and 33 power reactors and seven new are under construction. The reactors make up 20 percent of the country's electricity consumption.

BDST: 1748 HRS, APR 16, 2015
AKA