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Turkish nuke tender may be delayed three months
Turkish nuke tender may be delayed three months
ANKARA, April 21 (Reuters) - Turkey's energy minister said on
Friday a decision on which consortium would build the country's
first nuclear power plant may be delayed for three months amid
financing guarantee problems.
Turkey had asked the three consortia bidding to build the $2.5-4
billion plant to extend their tenders until April 21. A further
announcement is expected later on Friday.
The Treasury has said it cannot guarantee financing of the project
until 2003 because a three-year disinflation programme agreed with
the International Monetary Fund limits financing guarantees for
large projects.
``As far as I understand there may be a postponement,'' Minister
Cumhur Ersumer told reporters, adding that any eventual decision
would depend on Turkey's performance within the $4 billion IMF-
backed programme.
``First the April performance, then the performance in the second
quarter will be evaluated. With these limits I imagine (state power
producer) TEAS will make a delay,'' he said.
Despite a Treasury suggestion the project should be delayed until
2001 for an alternative financing model to be developed, the energy
ministry has insisted the project must go ahead soon.
Energy officials have said financial guarantees are not needed until
2008 when the turnkey project will be completed.
The state power producer TEAS say they have already invested
$50 million in preliminary studies and consultancy work for the
project.
Environmental critics, politicians and residents of Akkuyu, where
the plant is to be built, oppose the project due to its proximity to an
active earthquake faultline and for fear it would hurt tourism on that
part of the Mediterranean coast.
Bidders for the $2.5-4 billion plant have extended their bids on
numerous occasions in the long-running tender. They include one
led by U.S. Westinghouse Electric Co (a unit of British Nuclear
Fuels Ltd.), another led by Canada's AECL and a third by Franco-
German Nuclear Power International (NPI).
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