By Lyubov Pronina and Yuriy Humber
September 27, 2010
(Bloomberg) -- Rosatom Corp., Russia’s nuclear holding company, plans to at least triple sales to $50 billion by 2030, as China and India order more reactors and fuel and opportunities emerge in the Middle East, said Chief Executive Officer Sergei Kiriyenko.
Rosatom’s reactor-building unit, ZAO Atomstroyexport, will begin work on two more nuclear reactors at China’s Tianwan power plant next year after Russia signed a contract at a “global market price,” Kiriyenko told reporters today in Beijing. The Moscow-based company, which built the first two units at Tianwan, is also in talks to build the nation’s next-generation fast reactors and a nuclear fuel plant, he said.
The push into the world’s second-largest economy, where Rosatom vies with Toshiba Corp.’s Westinghouse Electric Corp. and France’s Areva SA, as well as domestic builders, is in line with Prime Minister Vladimir Putin’s aim to make Russia the top energy provider. The world’s biggest exporter of oil and natural gas is bidding for nuclear power projects in the Middle East, Eastern Europe and Southeast Asia.