28 May 2004 14:23
Russian, Czech bidders interested in completion of Slovak nuclear power plant
At least two of the bidders in the tender for Slovenske elektrarne [Slovak Power Plants] are willing to fulfil
Economy Minister Pavol Rusko's unofficial condition that the successful buyer should complete [the nuclear power
plant in] Mochovce. In addition to Czech CEZ [Czech Power Generating Plants], which has recently expressed interest in
completing the remaining two units of the nuclear power plant in Mochovce, on Tuesday [25 May], the Russian energy
giant, RAO UES, declared its preparedness to do the same.
"Yes, we are able to fulfil this requirement and complete Mochovce," said Andrei Rappoport, chairman of the
board of directors of the Russian RAO UES energy company, which is among the parties interested in privatizing Slovenske
Elektrarne.
"Slovenske elektrarne is an extremely interesting energy asset, which is worth privatizing, and has a large
potential for growth. This acquisition would help us get closer to European markets," was how Rappoport explained
their interest in the privatization.
Rappoport considers nuclear energy an energy source with the best prospects. He also makes no secret of the idea
regarding a change of the decision on the early closure of the two units of the V1 power plant in Jaslovske Bohunice, to
which Slovakia committed itself in the [EU] accession treaty. "I am convinced that these are excellent and
effective units whose service life is longer," he said. "We will try to change this, but we cannot interfere
in interstate agreements," he added.
The price that the Russians will be willing to offer will depend on the state in which the power plants will be sold.
The problem of the company is especially its heavy indebtedness, tied-up costs, and the absent amount of almost 90bn
korunas necessary for scrapping nuclear facilities.
"All this influences the value of the power plants. If the government decides to participate in solving debts,
the price will increase," the RAO representative pointed out. However, he will not directly ask the government to
pay off the debts. "The government will decide for itself how it wants to value the power plants," he
stressed.
The bidder from the Czech Republic is also worried about the missing billions for scrapping. "Slovenske
elektrarne, is, of course, unsaleable without this issue being solved," said CEZ managing director Martin
Roman.
Although RAO UES ruled out financial problems, it would still like to enter the privatization process in a consortium
with another strategic bidder. For the time being, Rappoport refused to reveal its name, as well as the reason why he
wants to join forces with another firm.
According to several sources, the state-owned Italian company Enel is also interested in the power plants, including
their nuclear part.
The other two presumed interested parties - Germany's E.ON and Austria's Verbund - are only interested in
conventional sources.
[Sme] |
RUSSIA IN FACTS
