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On April 27, 2007, President of Russia Vladimir Putin signed the Decree ‘On Restructuring Nuclear Energy and Industry Complex of the Russian Federation’ which provides for creation of a single, vertically integrated company in the country’s nuclear industry. The company was named Joint Stock Company Atomic Energy Power Corporation (short name—JSC Atomenergoprom).
The need for such a large vertically integrated company has arisen in recent years as a result of the so-called ‘nuclear renaissance’ and increase of competition in the global market of nuclear technologies. AEP managed, taking into account the new realities of economy, unify the whole production string and become one more strong player capable to compete for new orders on equal footing with the largest foreign companies.
The company has been created in accordance with Russian Federation Laws ‘On Privatization of State and Municipal Property’, ‘On Joint Stock Companies’, and ‘On Specifics of Management and Disposal of Property and Shares of Organizations Functioning in the Area of Nuclear Energy Usage, and on Introducing Amendments to certain Legislative Acts of the Russian Federation’, and the Resolution of the Government of Russia No. 319 ‘On Measures for Creation of Joint Stock Company ‘Atomic Energy Power Corporation’‘ dated March 26, 2007.
The creation of the company will allow Russia to preserve its leading positions, the most important of which is the experience accumulated across the whole range of nuclear fuel cycle technologies. Behind us we have almost half a century long history of the industry, from the world’s first nuclear power plant in Obninsk to the most technologically advanced and economically efficient uranium enrichment technology in the world.