Russia’s PM Vladimir Putin reportedly announced that the government has agreed to lend EUR 3.8bn for the construction of the 2,000MW nuclear power plant in the Danube town of Belene . The conditions of the loan are still under negotiations but Putin insists that the project company should be set up before the extension of the credit. Germany ’s RWE and the state-owned NEC signed a contract at the end of last year to set up a company which will administer the construction of the plant. The German investor will own 49% of the project, while the state will retain the remaining 51%. RWE was planning to transfer 24.5% of its stake to Electrabel but the Belgian company withdrew from the deal and now the Germans may transfer half of its stake to another energy company. RWE is negotiating with Russia ’s Inter RAO, Finland ’s Fortum and two companies from Sweden . Russia ’s AtomStroyExport holds EUR 4bn construction contract but insists for an upward revision of EUR 288mn to nearly EUR 4.3bn. According to the initial plan the first unit of 1,000MW should become operational by the end of 2014 while the second one will be connected one year later. However, the project is already some 12 months behind the schedule. The delay is estimated to cost EUR 1bn in missed profits. Construction works are expected to start by the middle of next year after the previous constructions on the site of the plant are fully demolished.