Dabar populiaru
Published: 16 april 2012 18:22

Services by N M Rothschild & Sons to cost extra 2.3 million euros for Lithuania’s Visaginas plant

Londono finansinis centras
„Reuters“/„Scanpix“ nuotr. / The UK investment bank N M Rothschild & Sons and Lithuania have signed a new contract worth 8 million litas

The UK investment bank N M Rothschild & Sons, which advises Lithuania in its new nuclear power plant’s project, and Visagino Atominė Elektrinė (Visaginas Nuclear Power Plant, or VAE), a company implementing preparatory arrangements for the project, have signed a new contract worth 8 million litas (EUR 2.3 million).

The one-year contract was signed on 13 January, the central public procurement portal reported.

A year ago the companies signed a contract worth 3.45 million euros.

Neither the representatives of the VAE, nor the Energy Ministry would disclose officially how much the services of new facility’s business consulting and financial adviser cost to Lithuania.

The first contract signed with N M Rothschild & Sons-led consortium in June 2009 expired on 31 December 2010. Later, the contract was extended for one year as a result of direct negotiations. Some 1.5 million euros were paid to the bank for services by the beginning of 2011.

The consortium previously included the Nordic-Baltic investment bank Evli, the international economic and financial consultancy NERA Economic Consulting and the German technical consultancy Fichtner. Current members of the consortium have not been specified.

Lithuania plans to build a new nuclear power plant in Visaginas, close to the border with Belarus, by 2020-2022. The government intends to sign a concession agreement with Japan’s Hitachi by July. Final investment decision is expected to be made by the end of March, 2015.

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