TENEX in 2017 Signed 10 New Contracts Worth Circa USD 1.3 Bln

The Joint Stock Company TENEX has drawn up preliminary results of its 2017 activities. 10 new contracts worth circa USD 1.3 billion were engaged with nine companies from five countries. The Company’s sales volume somewhat reduced compared to similar indicators in 2016 and will amount to circa USD 1.7 billion that is primarily due to the continuing situation of sinking market quotations for natural uranium and uranium enrichment services, and also planned termination in 2016 of several contracts for enriched uranium product deliveries.

TENEX fulfilled the 2017 program of export/import shipments in full volume and in the established timeframe. A total of 65 product shipments to customers were completed while fulfilling the contractual obligations.

The Company continued its efforts on forming a new direction of its activities: promotion to foreign markets of back-end products and services (spent nuclear fuel and radwaste management) and decommissioning of nuclear and radiation dangerous facilities. In February 2017 the Government of the Russian Federation by its decree No.211-r appointed TENEX as the sole organization authorized to engage foreign trade transactions connected with imports into RF of irradiated fuel assemblies from nuclear reactors.

In 2017 the Company was actively engaged in a dialog with the Japanese counterparts on defining and content-filling of prospective joint projects. In September 2017 within the framework of the Far Eastern Economic Forum at Vladivostok ROSATOM’s General Director A.E. Likhachev and President of the Japanese Atomic Energy Agency T. Kodama signed a Memorandum on joint activities to reduce radioactive waste. TENEX was actively involved in preparation of this document.