22 December 2011
Turboatom (TATM UK) signed a contract worth more than USD 100 mln to produce turbine equipment for the Rostov Nuclear Power Plant in Russia, CEO Viktor Subotin said yesterday. Turboatom will supply a condenser and a 1,100 MW steam turbine for the 4th unit of the Rostov NPP in July 2014-March 2015. Production of turbine equipment will take two years and require some major upgrades to the plant, which is estimated at EUR 10 mln. Turboatom also plans to participate in tenders for turbines for three other Russian NPPs. In a separate announcement, Turboatom shareholders approved of paying out UAH 56.6 mln as dividends (30% of the company’s 2010 net profit). Dividends will be paid to minority shareholders from February 1, 2012. The decision implies a payout of UAH 0.134 per share, with a 2.8% dividend yield.