Nuclear plant investor deal imminent (4)

Lithuania will soon find out who will invest into the country’s new nuclear power plant at Visaginas, Prime Minster Andrius Kubilius announced.

Even though the PM would not disclose the name it is rumoured that the investor will be the US company Westinghouse.

"As far as I know, direct negotiations with the potential investors are in progress and truly successfully...I believe that we will know who the investor will be soon," Kubilius said on radio on Tuesday.

The Polish Gazeta Wyborcza said last month that Westinghouse finds the Visaginas project "very interesting," but it is not planning to participate in it as a strategic investor, like the Korean Kepco was planning before it withdrew. According to the paper the Americans would like to be a technology supplier.

The Lithuanian Minister of Energy Arvydas Sekmokas is currently on a visit to the US where, according to Lithuanian media, he is likely to meet with potential investors for the nuclear plant and the liquefied natural gas terminal in Klaipeda. It is expected that some sort of deal between Lithuania and an investor should be signed in July.

Lithuania found it much easier to talk to potential investors after the Japanese quake due to growing opposition to the nuclear generated power in the rest of the world. The Baltic News Service quoted their sources as saying that "We have people to talk to now," since there two or three potential partners.

Just one plant

Kubilius said he is convinced that in the region only Lithuania has a viable project and is capable of building a nuclear power plant.

"Our neighbours (Kaliningrad and Belarus) should be concerned about the power plant that we are developing and building, because, first of all, our plant in Visaginas has all the infrastructure, which means that the facility would be relatively cheaper. Second of all, our planned nuclear power plant already has a market for its electricity, which the Baltic market," he said.

"If a nuclear power plant were built in Kaliningrad, it remains very unclear where its electricity would be used and to whom it would be sold. As to Belarus, it’s hard to say how they will manage to build a nuclear power plant, given the difficult economic and financial situation that the whole Belarusian economy is currently in,” Kubilius said.