On September 27, joint venture CJSC Uranium Enrichment Center (UEC) acquired 27 25% plus 1 share in JSC Ural Electrochemical Integrated Plant (UEC Project), according to a statement by TVEL controlling 50% of UEC shares.
Before the end of this year, the first commercial supply of 300 thousand SWU (separative work units) is expected from UEC. In pursuance of its activities, the joint venture will have access to uranium enrichment services in the amount of up to 5 million SWU per year.
UEC Project is the first project in Russia's nuclear fuel cycle where a foreign partner makes an investment and acquires an equity stake in a strategically important Russian separation plant.
JSC TVEL is part of the state corporation Rosatom. The company is primarily engaged in the development, production and marketing (including export) of nuclear fuel along with accompanying nuclear and non-nuclear goods. TVEL includes large Russian enterprises specializing in the production, delivery, scientific and technical support of nuclear fuel on atomic power stations of Russia, the CIS and other foreign countries. TVEL has its own representative offices in Ukraine and Slovakia.
The State Atomic Energy Corporation Rosatom manages all of Russia's nuclear power assets including the civil nuclear segment and nuclear weapons. Rosatom was established on December 18, 2007, its core is state-owned holding OJSC Atomenergoprom consolidating all the non-military assets of Russia's nuclear industry. Besides, the state-owned corporation operates the nuclear icebreaker fleet and owns Inter RAO UES managing power assets in 14 countries of the world.