Lithuania’s nuclear power plant operator to pay 6 million euros to Herbert Smith’s lawyers

The Central Public Procurement Portal announced on Tuesday that the two-year contract with Herbert Smith was signed on 13 June 2011. VAE purchased legal services from Herbert Smith, which was the sole bidder, through direct agreement.

According to the information that has been made public and the data available to BNS, VAE has already paid approximately 32 million litas to N M Rothschild & Sons-led consortium, which advises Lithuania in its new nuclear power plant’s project.

VAE and the adviser have so far signed contracts worth 7.3 million euros. Moreover, the adviser was paid a success fee of 2 million euros last year.

VAE might have signed much more contracts with various advisers but it has not made that information public so far.

Lithuania ’s government intends to sign a concession agreement with Japan’s Hitachi as strategic investor by July. Final investment decision is expected to be made by the end of March, 2015.