Atomflot ordered the construction of 4 floating blocks for the Baimsky MPP

FSUE Atomflot ordered Atomenergomash (AEM) to construct four modernized floating power units (MFPU), completely ready for operation.

According to Atomenergoprom, which controls both companies, the deal took place on Friday and amounted to 190.2 billion rubles (including VAT).

Atomenergomash, as a contractor, is obliged to implement work on the development and adjustment of the technical design, on the development and correction of working documentation, on the construction of MFPU, launching them into the water, providing ships with supplies, conducting mooring, integrated mooring tests, and removing remarks identified during testing the MFPU, delivery of ready-to-use MFPU to the acceptance committee.

The commitments shall be fulfilled by July 31, 2031.

As reported, in September, Atomflot and GDK Baimskaya, controlled by Kaz Minerals, signed a preliminary agreement on the supply of electricity to ensure the operation of the Baimsky MPP as part of the implementation of a comprehensive investment project plan for the development of the Baimsky ore zone.

In particular, Atomflot will supply 4 MFPUs with an installed power of minimum 106 MW each, with the commissioning of the first two power units next to the Nagleynyn Cape by early 2027, the third by the beginning of 2028, and the fourth by the beginning of 2031.

As part of the concluded agreement, the parties confirmed their basic agreements on the price of electricity in the amount of 6 rubles per kWh in 2020 prices (taking into account indexation) and consumption volumes.

The Baimskaya porphyry copper area belongs to Kazakhstan's KAZ Minerals. Today the company is developing the project feasibility report, its completion was postponed from 2020 to the first half of 2021 due to changes in the infrastructure plan. Baimskaya is expected to start production by the end of 2027 with an annual ore processing capacity of 70 million tons. The estimated capital budget is about $ 8 billion. The resources of the Peschanka deposit, located within the Baimskaya, are estimated by JORC at 9.9 million tons of copper and 16.6 million ounces of gold.