August 21, 2019 / 7:43 AM / 3 months ago

Russia's Sberbank loans $400 mln for Turkish nuclear power station

MOSCOW, Aug 21 (Reuters) - Russia’s largest lender Sberbank will provide a $400 million loan for the construction of the Akkuyu nuclear power station in Turkey, the bank said on Wednesday.

The seven-year loan will be provided to a subsidiary of Rosatom, Russia’s state nuclear firm building the plant.

The 4,800 megawatt (MW) plant is intended to reduce Turkey’s dependence on energy imports, but has been beset by delays since Russia was awarded the contract in 2010.

In June, Turkish President Tayyip Erdogan said it was important to finish the first reactor in the Akkuyu nuclear power plant by 2023. (Reporting by Anton Kolodyazhnyy; editing by David Evans)

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