Nuclear Industry Overhaul Planned (Russia)

[CHIMO]

The government plans to restructure the nuclear energy industry into a vertically integrated holding, a move that would simplify management in the sector and attract the cash necessary for its further development, a top official said Monday.

Federal authorities are reviewing the creation of a fully state-controlled umbrella company, under which several major holdings will be formed, embracing all enterprises operating in the nuclear sector, said Victor Opekunov, chairman of the State Duma subcommittee for nuclear energy, part of the Energy, Transport and Communications Committee.

The restructuring of the industry would involve "privatizing" all Russia's nuclear enterprises -- in other words, incorporating them into joint-stock companies -- with the state becoming their only shareholder, Opekunov said.

In spite of nuclear sector companies being state-owned, their management would be allowed to run the business much like a private enterprise, making operational decisions and attracting corporate financing, Opekunov said.

http://www.themoscowtimes.com/stories/2006/03/07/040.html