RAOS Project Oy confirmed that Fennovoima Oy has informed it of the termination of the contract for delivery of the Hanhikivi 1 nuclear power plant.We are extremely disappointed that Fennovoima has taken the decision to terminate the contract, as already stated before. The arguments presented by Finnish partners for the termination contradict the actual status of the project and Fennovoima’s earlier statements noting the progress and prospects for its successful completion. ROSATOM said “The decision of the Finnish partners to terminate the Hanhikivi-1 NPP project is non-market and politically motivated. In the meantime, we have no other choice but to defend ourselves and demand compensation for this unlawful termination.”It said “Rosatom has sufficient resources and the necessary organizational flexibility to fulfill its contractual obligations even in a difficult current environment. Above all, we remain concerned for the safety of our Ukrainian colleagues, their families and others close to them, and hope for a speedy return of peace. In the meantime, RAOS Project has drawn up contingency plans and, for example, explored options for forging of the reactor pressure vessel for Hanhikivi 1 elsewhere than the Kramatorsk plant in Ukraine. Rosatom strictly adheres to the principle of unconditional fulfillment of its obligations in all its activities. We are open to discuss possible options for the project to recommence when conditions permit, and remain fully capable of its successful completion.”Fennovoima has terminated the EPC contract of plant delivery with RAOS Project due to RAOS Project's significant delays and inability to deliver the project. There have been significant and growing delays during the last years. The war in Ukraine has worsened the risks for the project. RAOS has been unable to mitigate any of the risks. This means, that cooperation with RAOS Project is terminated with immediate effect and both the design and licensing work and works at the Hanhikivi 1 site with RAOS project end.RAOS Project Oy is a Finnish subsidiary of Rosatom, the purpose of which is to deliver a 1200 MWe pressurized water reactor to Hanhikivi site in Pyhäjoki, in accordance with a turnkey contract signed in December 2013. RAOS Project employs about 450 people in Helsinki, Pyhäjoki, St. Petersburg and Moscow.
RAOS Project Oy confirmed that Fennovoima Oy has informed it of the termination of the contract for delivery of the Hanhikivi 1 nuclear power plant.We are extremely disappointed that Fennovoima has taken the decision to terminate the contract, as already stated before. The arguments presented by Finnish partners for the termination contradict the actual status of the project and Fennovoima’s earlier statements noting the progress and prospects for its successful completion. ROSATOM said “The decision of the Finnish partners to terminate the Hanhikivi-1 NPP project is non-market and politically motivated. In the meantime, we have no other choice but to defend ourselves and demand compensation for this unlawful termination.”It said “Rosatom has sufficient resources and the necessary organizational flexibility to fulfill its contractual obligations even in a difficult current environment. Above all, we remain concerned for the safety of our Ukrainian colleagues, their families and others close to them, and hope for a speedy return of peace. In the meantime, RAOS Project has drawn up contingency plans and, for example, explored options for forging of the reactor pressure vessel for Hanhikivi 1 elsewhere than the Kramatorsk plant in Ukraine. Rosatom strictly adheres to the principle of unconditional fulfillment of its obligations in all its activities. We are open to discuss possible options for the project to recommence when conditions permit, and remain fully capable of its successful completion.”Fennovoima has terminated the EPC contract of plant delivery with RAOS Project due to RAOS Project's significant delays and inability to deliver the project. There have been significant and growing delays during the last years. The war in Ukraine has worsened the risks for the project. RAOS has been unable to mitigate any of the risks. This means, that cooperation with RAOS Project is terminated with immediate effect and both the design and licensing work and works at the Hanhikivi 1 site with RAOS project end.RAOS Project Oy is a Finnish subsidiary of Rosatom, the purpose of which is to deliver a 1200 MWe pressurized water reactor to Hanhikivi site in Pyhäjoki, in accordance with a turnkey contract signed in December 2013. RAOS Project employs about 450 people in Helsinki, Pyhäjoki, St. Petersburg and Moscow.
