Home
/
News
/

Turboatom Resolves Indian Nuclear Generator Incident

Turboatom Resolves Indian Nuclear Generator Incident

11 December 2008

According to a Turboatom (TATM: BUY) press release issued yesterday, the company successfully completed negotiations with the Indian Nuclear Power Corporation to resolve the issues surrounding an equipment malfunction at the Kaiga nuclear power plant in September. As part of the agreements signed, the Indian side will pay for the repairs; a contract for equipment repair will be signed by December 15. No financial or other claims were brought against Turboatom. Inna Perepelytsya: The incident involved turbine and generator equipment supplied by subcontractor, Elektrotyazmash, a Ukrainian state company. As we expected when the event initially occurred, the Indians did not seek claims against Elektrotyazmash or Turboatom, a general contractor on the project. All our financial forecasts and target remain intact.

Latest News

News

23

02/2022

Separatists may claim entire territories of two Ukrainian regions

Russia has recognized “all fundamental documents” of the self-proclaimed Donetsk and Luhansk People’s Republics (DNR...

News

23

02/2022

U.K. to provide USD 500 mln loan guarantee for Ukraine as IMF mission starts

The British government is going to provide up to USD 500 mln in loan guarantees...

News

23

02/2022

MinFin bond auction receipts jump to UAH 3.5 bln

Ukraine’s Finance Ministry raised UAH 3.3 bln and EUR 7.2 mln (the total equivalent of...