Lithuanian Parliament takes one more step towards concession deal with Hitachi

A bill on the award of concession and Lithuania’s property obligations towards the project of a nuclear power plant in Visaginas passed its second reading in the Parliament on Wednesday, in a vote of 67 to 16 with 25 abstentions.

The bill will now have to pass the third and final vote.

If the Parliament endorses the bill and other documents related to the project, a concession agreement with Hitachi on Visaginas plant – the country's largest-ever energy project at an estimated 16 billion to 18 billion litas (EUR 4.6-5.2 b) – is planned to be signed.

Hitachi, the strategic investor, would own 20 percent of shares in the new facility and Lithuania would hold 38 percent. Latvia and Estonia would take stakes of 20 percent and 22 percent, respectively.

The government expects Visaginas N-plant to be operational by 2020-2022.