OREANDA-NEWS. July 11, 2008. St. Petersburg Atomenergoproekt federal state unitary enterprise (SPbAEP FSUE) has been reorganized into an open joint stock company in accordance with decree N319 (May 26 2007) of the Government of the Russian Federation on the corporization of 55 civil federal state unitary enterprises (FSUEs) and transfer of 100% of the shares of the new open joint stock companies (OJSCs) into the ownership of Atomenergoprom OJSC.

Atomenergorpom is a vertically integrated holding set up in Apr 2007 for designing, building, operating and maintaining nuclear power plants, including nuclear facilities situated outside Russia.

Director of St.Petersburg Atomenergoproekt OJSC (SPbAEP OJSC) Leonid Reznikov says that the change of the form of ownership will have no effect on the company’s work. On the contrary, it will help it to more effectively work on the market and to take more courageous managerial decisions under such strategically important projects as the construction of Leningrad Nuclear Power Plant-2 in Sosnovy Bor. SPbAEP is the general designer and contractor of this project.

Now SPbAEP is a fully-fledged business entity, which can provide engineering services for the construction of modern nuclear power plants on a “turnkey” basis (feasibility, research, engineering, supply of equipment, construction and commissioning).

SPbAEP OJSC is legal successor of SPbAEP FSUE.