Rosatom demands $3 billion due to the disruption of the Hanhikivi-1 nuclear power plant project

Rosatom State Corporation filed six lawsuits in the amount of $ 3 billion due to the failure of the contract for the construction of the Hanhikivi-1 nuclear power plant. The station was a joint project with the Finnish company Fennovoima. The cost of its construction was estimated at €7–7.5 billion.

Earlier today, August 22, Fennovoima CEO Joachim Specht in an interview with Helsingin Sanomat informedthat his company is demanding €2 billion from Rosatom due to the disruption of the project. He also stated that Rosatom has not yet filed a counterclaim against his company.

“The information contained in the interview with Mr. Joachim Specht that Rosatom “has not yet begun a formal process of legal proceedings” is not true. To date, Rosatom has already filed six lawsuits totaling $3 billion,” Rosatom notes in a commentary.

Fennovoima terminated contract for the construction of the Hanhikivi-1 NPP with the Finnish subsidiary of Rosatom on May 2. The decision was explained by the “inability” of the RAOS Project to implement the project, “significant delays” in the construction, as well as the conflict in Ukraine.

Anastasia Larina