Rosatom will continue to prove its case regarding the nuclear power plant project in Finland

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

This is already the second decision of European authorities in favor of Rosatom.

Rosatom General Director Alexey Likhachev said that the state corporation will continue to prove its case regarding the project in courts of various instances.

MOSCOW, October 10 - RIA Novosti. Rosatom will continue to prove its case in courts of various instances regarding the Hanhikivi-1 nuclear power plant project, which was unilaterally terminated by Finland, said Rosatom General Director Alexey Likhachev.

The International Arbitration Court of the International Chamber of Commerce (ICC) has declared illegal the Finnish side's unilateral termination of the contract with Rosatom for the construction of the Hanhikivi-1 nuclear power plant, the Russian nuclear state corporation reported.

This is already the second decision of European authorities in favor of Rosatom, noted Likhachev, whose words are quoted in the message.

“Four years ago, our position was confirmed by an international group of experts as part of the dispute resolution council, which recognized Finland’s refusal of the project as unfounded, and the termination of the EPC contract as unlawful,” noted the head of Rosatom.

Today's victory is important, but not final, Likhachev added. “We will continue to prove that we are right regarding the Finnish project in the courts of various instances,” he emphasized.

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.