Tvel pushes Russian nuclear energy with Slovak deal
Russia's nuclear industry has boosted its influence in the heart of Europe following a deal to supply more than half of Slovakia's electricity. The EU electricity generator says Russian nuclear fuel's now not just cheaper but safer than Western rivals.
Russian nuclear fuel leader Tvel beat off America's Westinghouse in the $630 million deal which will supply Slovakia with 57% of its electricity.
Paolo Ruzzini, CEO of Slovanske Elektrarne said Tvel was cheaper and safer than the US offer.
“All the items - first of all the safety level, the reliability that we have built up and of course the competitiveness of the overall process.”
Tvel's the world number three producer after Westinghouse and Areva. It already makes fuel here for the French giant. Yury Olenin, President of Tvel says as the nuclear industry grows, the number of players will fall.
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