The Cabinet approved the documents on Wednesday. If the Seimas (parliament) endorses the documents by the end of June, a concession agreement with Japan's Hitachi on the Visaginas nuclear power plant - the country's largest-ever energy project at an estimated 5 billion euros - is expected to be signed by Jun. 28 at the latest.
The Visaginas project package includes the new plant's business plan, the draft concession agreement with Hitachi and the Finance Ministry's conclusions on the financial risks involved in the project, as well as a new wording of the Law on Nuclear Power Plant and a draft law on the granting of concession and Lithuania's obligations related to the project.
Under the draft concession agreement, Hitachi should hold a 20 percent stake in the Visaginas new nuclear power plant and Lithuania should own 38 percent of shares. Another 20 percent of shares should go to Latvia, and 22 percent to Estonia.
Energy Minister Arvydas Sekmokas has said that these percentage figures are preliminary and can still change.
The Visaginas project is estimated to cost up to 5 billion euros at current prices.
A new company for the implementation of the project is planned to be established in the near future. Lithuanian, Latvian and Estonian energy companies and Hitachi are expected to be the founders of the project company. Possibly, Poland will join in at a later stage.
2012 05 10
Lithuania's key energy package goes to parliament
The Lithuanian government has submitted to the parliament for approval a package of documents related to the country's planned new nuclear power plant, as well as a national energy independence strategy and bills on a liquefied natural gas (LNG) terminal and the power grid synchronization with the continental European network.
The ministers cabinet approved the package on Wednesday. / Juliaus Kalinsko / 15min nuotr.
Report mistake
Successfully sent
Thank you
