Turboatom to Modernize Turbines at Nuclear Power Plant in Hungary

Turboatom (TATM: U/R) confirmed to Interfax this week that they are participating in the modernization of the Paksh nuclear power plant in Hungary, which will take place from 2007 to 2010. Turboatom will modernize turbines at four of the plant’s blocks, increasing their power by 8%. The company did not disclose the total value of the contract. Inna Perepelytsya: Turboatom’s supplied the original turbines for eight of the blocks at this power station. We estimate this order at more than USD 10 mln and expect that after 2010 the company will assist in the renovation of the turbines at the station’s other four blocks.