Termination of the contract between Fennovoima and Rosatom was considered unlawful
[ad_1]
The International Dispute Resolution Board declared unlawful the termination of Fennovoima’s contract with Rosatom for the construction of the Hanhikivi-1 nuclear power plant. About it informs press service of the Russian state corporation.
“The Council also found that the illegal termination of the contract by Fennovoima is a material breach of the terms of the contract, which gives RAOS Project the right to claim damages from Fennovoima,” Rosatom said.
It is noted that such a decision was made by an independent panel of recognized international experts. The company called the position of the council on the nuclear power plant project “balanced and objective.”
In May 2022, Fennovoima terminated the contract with the state corporation “Rosatom» by the Finnish company RAOS Project for the construction of the Hanhikivi-1 NPP. Fennovoima said that in recent years, the work has been delayed, the situation was aggravated by the fighting in Ukraine. May 24 Fennovoima also withdrew application for a license to build a nuclear power plant.
At the same time, Rosatom pointed to the statements of the Finnish company at the beginning of 2022 about the readiness to license the project. Moreover, preparatory work was actively carried out at the construction site before the start of construction, the state corporation added.
At the end of August, Rosatom filed six lawsuits against Fennovoima for $3 billion. Before that, the Finnish company also filed a lawsuit against the state corporation for a total amount of about 2 billion euros. Rosatom emphasized that they would protect the interests of the company “until their requirements are fully met.”
The Hanhikivi-1 single-unit nuclear power plant with a Russian-designed VVER-1200 reactor of generation 3+ with a capacity of 1200 MW was planned to be built on the eastern shore of the Gulf of Bothnia at a site in the Finnish municipality of Pyhäjoki. The cost of the project with the participation of Rosatom was estimated at 7-7.5 billion euros. It was expected that construction would begin in 2023, and commissioning of the plant in 2029.
[ad_2]
Source link
