May 13, 2010 — Although South Korea had been making gains in securing deals to build nuclear plants in the Middle East, Russia has emerged as the winner for Turkey’s $20 billion nuclear power plant.
The nuclear plant, Turkey’s first, will be built at Akkuyu on the country’s Mediterranean coast. The awarding of the contract comes despite a Turkish court nullifying a tender last year by a Russian-led group to build four reactors at Akkuyu.
Russia will own a controlling stake in the plant, making it the first Russian-owned plant outside of Russia.
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