Russian funds investment in the construction of the Hanhikivi NPP (a joint project with Russia) is undoubtedly a very sensible decision; this money will return, said Vladimir Putin at a big annual press conference held on Thursday.

“The money that Rosatom has allocated for the construction of an NPP in Finland is a good investment, as Finland has a very sustainable economy. Despite obstacles created by the project’s opponents, the Finnish parliament has made a firm decision to approve it,” said Putin.

He added: “Rosatom’s partner – a company operating in Russia, which has already invested billions of euros in our economy – has been willing to work together and has assumed the risks.”

“This money is totally returnable, it is a sound investment,” stated Putin. 

In 2013, Rusatom Overseas, Rosatom’s international division, and Fennovoima signed a contract for the construction of the Hanhikivi 1 NPP. In 2014, the Russian party received a 34% stake in the project. The plant will have the Russian VVER-1200 reactor of the AES-2006 design. It is planned to be put into operation in 2024. In December 2014 the Finnish parliament approved the project. In June, Fennovoima applied for a construction license. In January 2015, the Russian government included the project in the list of self-liquidating infrastructure projects, co-financed by the National Wealth Fund. The Fund will allocate a sum equivalent to EUR 2.4 billion (in rubles) for its implementation, but no more than 150 billion rubles. In March, it allocated RUB 57.5 million for the project. 

Source: RIA Novosti