Rosatom will complete the legal chain with Finland, Likhachev said

Rosatom intends to complete the legal chain of litigation with Finland, which terminated the contract for the construction of the Hanhikivi-1 nuclear power plant.

The International Arbitration Court of the International Chamber of Commerce (ICC) has declared illegal the Finnish party's unilateral termination of the contract with Rosatom for the construction of the Hanhikivi-1 nuclear power plant in 2022.

In December 2022, the International Dispute Resolution Board (DRB) rejected the Finnish side’s request to file financial claims against Rosatom in the situation with the Hanhikivi-1 nuclear power plant.

MOSCOW, October 10 - RIA Novosti. Rosatom will complete the legal chain of litigation with Finland, which terminated the contract for the construction of a nuclear power plant with Russia, said Alexey Likhachev, general director of the Russian nuclear state corporation.

Earlier, Rosatom reported that the international arbitration court at the International Chamber of Commerce (ICC) declared illegal the unilateral termination by the Finnish side in 2022 of the contract with Rosatom for the construction of the Hanhikivi-1 nuclear power plant.

“We will reach the end of this legal chain,” Likhachev told reporters.

The contract for the construction of the Hanhikivi-1 nuclear power plant in northern Finland was signed by the Finnish company Fennovoima and Rosatom in 2013 and envisaged the construction of one power unit with a capacity of 1200 MW according to the latest generation 3+ project.

The volume of investment in the project was estimated at 7-7.5 billion euros, the volume of localization for companies from Finland and other EU countries was expected to range from 1.8 to 2.7 billion euros. The station was supposed to cover 10% of Finland's total electricity needs. However, in May 2022, Fennovoima terminated the contract, citing Rosatom’s alleged violation of project deadlines, as well as the worsening political situation.