Lithuania to Sign Nuclear Plant Contract

4 October 2010 (Last Updated October 4th, 2010 18:30)

Lithuania is looking to sign a contract with the winner of a bid to build a nuclear power plant in the country next year. Prime Minister Andrius Kubilius told Bloomberg that in the first half of 2011, they will "finalise agreements". The government plans to replace the Soviet

Lithuania is looking to sign a contract with the winner of a bid to build a nuclear power plant in the country next year.

Prime Minister Andrius Kubilius told Bloomberg that in the first half of 2011, they will "finalise agreements".

The government plans to replace the Soviet-made Ignalina facility, which shut down in December 2009, to comply with EU rules.

The country had invited binding offers to build the power plant to reduce its dependence on Russian energy and shortlisted five firms to invest in.

The power plant is expected to cost about €5bn ($6.8bn).

Lithuania expects to complete the nuclear plant in Visaginas between 2018 and 2020.