OREANDA-NEWS. Skoda JS, a part of OMZ-NPPEQ division of OMZ (Uralmash-Izhora Group) (RTS: OMZZ; LSE: OMZD; OTC: UHMVY), has announced the signing of a contract worth more than EUR 3.5 million with “JV Rez a.s (Czech Republic) for the modernization of research reactors LVR-15 and LR-0.

According to the press service of OMZ, the whole project will be completed by mid-2008. A substantial part of financing (50%) will be provided from the structural funds of the European Union.

In July 2006, the Czech Nuclear Research Institute in Rez, Prague, announced a tender for the implementation of the technological element of a project entitled “Scientific and Technical Park and Business Incubator in Rez”.

The new Skoda JS project follows previous modernization projects at reactor LVR-15 in Rez ten years ago and, more recently, the training reactor VR-1 of the Faculty of Nuclear Sciences and Physical Engineering at the Czech Technical University in Prague.

The development and production of experimental reactors along with the provision of equipment for power reactors are among the long-term supplier services offered by the firm. Since 1970, Skoda JS delivered seven research reactors in total.

OMZ (Uralmash-Izhora Group) is one of the largest Russian heavy industry enterprises. It specializes in engineering, production, sales and maintenance of equipment and machines for the nuclear power industry, and also in the production of special steels and rendering of industrial services. The company includes OMZ NPPEQ, OMZ-Specstal, OMZ-Mining Equipment and Engineering, OMZ-Uralmash and OMZ-Non-Core Business divisions. OMZ divisions’ facilities are located in Russia (Uralmash and Izhorskiye Zavody) and the Czech Republic (Skoda Steel and Skoda JS).