Rosatom to focus on Asia-Pacific projects, eying Latin America

The main projects of Rosatom are now concentrated in countries in the Asia-Pacific region, where nuclear energy is developing rapidly, but Russia's state nuclear corporation is also interested in Latin American markets such as Brazil and Argentina, CEO Sergei Kiriyenko said on Thursday.

The main projects of Rosatom are now concentrated in countries in the Asia-Pacific region, where nuclear energy is developing rapidly, but Russia's state nuclear corporation is also interested in Latin American markets such as Brazil and Argentina, CEO Sergei Kiriyenko said on Thursday.

"We initially built the structure of our foreign contracts as very diversified," Kiriyenko told reporters on the sidelines of the 2014 St. Petersburg International Economic Forum.

He said Rosatom is very interested in projects in Europe, but since the priority in the development of global nuclear energy is now in emerging Asia-Pacific countries such as Bangladesh and more rapidly growing nations such as China, India and Vietnam, it "automatically turned out that our main projects are in this region."

He said it is better for Rosatom to have contracts to build two nuclear reactors in each of five countries than to have a contract for ten reactors in one country. "This creates far greater stability and predictability," Kiriyenko said.

He added that Rosatom is also interested in gaining a presence on the nuclear energy market in Latin America, particularly countries such as Brazil and Argentina, which already have experience operating nuclear facilities.

"We are actively working in Latin American countries. This is a very interesting region for us. They have long talked about rolling out a new program to develop nuclear energy, but such decisions have not been made yet," Kiriyenko said.

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