New Lithuanian nuclear plant plans

VILNIUS- The executives of Lithuanian,Polish, Latvian and Estonianenergy companies agreed at a meeting on August 12 in Helsinki to furthersmooth out the terms and conditions of cooperation agreement at a meeting dueto take place in Vilnius on Sept.25.

"At the meeting, we continued to harmonize the terms and conditions ofthe agreement, the terms for the partners to join Visagino Atomine Elektrine(Visaginas Nuclear Power Plant), the company due to make the arrangements forthe nuclear power plant project, other issues," Rymantas Juozaitis,chairman of Lithuania's nationalinvestor company Leo LT, said in a statement.

On Jul. 25 the executives of Polska Grupa Energetyczna, Latvenergo and Eesti Energija agreed with Leo LT proposal to establish a joint venture forthe arrangements of the N-plant project. In line with the proposal, Leo LTwould own a 51 percent stake in the venture.

In the future, partners would establish a joint venture for the managementof the plant. As reported previously, Leo LT should own a 34 percent interestin the venture, while Polska Grupa Energetyczna, Latvenergo and Eesti Energijawould own a 22 percent stake each.

Lithuaniaseeks to build power links with Polandand Sweden in2013-2016 and construct a new nuclear power plant in partnership withneighboring countries in 2015-2018.