Business news from Ukraine


21 October , 2015  

KYIV. Oct 21 (Interfax-Ukraine) – Energoatom has already spent $567 million of its own funds on the integrated (consolidated) program to improve the safety of power units at Ukrainian nuclear power plants (NPP), the deputy director for investment and long-term development at the enterprise, Hryhoriy Plachkov, has told reporters.

The company used international organizations’ funds to only pay for a consultant to assist in the project implementation and the 1% commission of the bank. Energoatom plans to use EUR11-13 million by the end of 2015, in 2016 – another EUR125-160 million.

Plachkov also said that the interest rate on a EUR 300 million loan from the EBRD is Libor plus 1, and the rate on a loan from the European Atomic Energy Community (Euratom) will be determined separately for each used tranche of EUR50 million.

“Believe me there is no cheaper credit money in the world divided into such a period,” he said, adding that the repayment of interest on the loan servicing and repayment will be made at the expense of the company’s tariff for electricity sales.

According to him, Energoatom intends to recalculate the total cost of financing the program in the first half of 2016.

“We intend to revise the total cost of the program. The company is working to clarify the overall figures. I think we’ll know them in the first half of 2016,” he said.