Business news from Ukraine

“Energoatom” takes out £181 mln loan to buy enriched uranium

23 July , 2024  

Last week, Energoatom signed a loan agreement for 181 million pounds with a consortium of international banks, including Deutsche Bank and Barclays Bank, the company said in a telegram on Tuesday.

The loan proceeds under the contract between Energoatom and Urenco will be used to finance the supply of nuclear materials – enriched and natural uranium hexafluoride.

The loan is for five years. The guarantee is provided by the UK government through the UK Export Finance (UKEF) export credit agency. No state guarantees are provided by Ukraine.

As reported, in November 2023, Energoatom and Urenco signed a contract for the supply of enriched uranium product for Ukrainian NPPs until 2035, with the possibility of its extension until 2043.

In addition, the parties have two contracts in place until 2025, under which NNEGC supplies the British company with nuclear materials.

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