ANKARA
Turkish and Chinese state-owned companies, and a private U.S.-based company have signed an agreement to build a nuclear power plant in Turkey.
Turkey’s state owned electricity generation corporation, Elektrik Uretim A.S., U.S.-based Westinghouse electric company and China’s State Nuclear Power Technology Corporation announced Monday a multi-party agreement to enter exclusive negotiations to develop and construct a nuclear power plant in Turkey.
According to Westinghouse’s statement on its website, a four-unit nuclear reactor will be built in Turkey as part of the agreement.
The project will cover all life-cycle activities, including operations, nuclear fuel, maintenance, engineering, plant services and decommissioning of Turkey’s third nuclear project.
Turkey has plans to construct three nuclear plants.
The first nuclear plant will be in Akkuyu, southern Turkey, which will be financed by Russia.
The second nuclear project will be constructed by a French-Japanese consortium with a share of Turkey’s Elektrik Uretim A.S. corporation.
The two nuclear projects are estimated to cost around $40 billion.
Prime Minister Ahmet Davutoglu had announced last month plans to build a third nuclear power plant as a national project.
Currently, Turkey relies heavily on foreign natural gas for its electricity production. Once all plants are operational, Turkey's foreign energy demand is expected to decrease.
Turkey generates about 46 percent of its electricity from natural gas and currently has an energy bill of up to $60 billion a year.
As of 2013, Turkey imported 98 percent of its natural gas and 93 percent of its oil.
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