World News | Finland's Fennovoima Terminates Contract to Build Hanhikivi-1 NPP with Russia's Rosatom

Helsinki [Finland], May 2 (ANI/Sputnik): Finnish nuclear power company Fennovoima announced on Monday the termination of the contract for the construction of the Hanhikivi 1 nuclear power plant (NPP) with Russia's state nuclear corporation Rosatom in Finland's Pyhajoki.

"Fennovoima has terminated the contract for the delivery of the Hanhikivi 1 nuclear power plant with Rosatom," the company said in a statement, adding that cooperation is ended "with immediate effect and both the design and licensing work and works at the Hanhikivi 1 site with RAOS project end."

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The Finnish company also said it made the decision "due to RAOS Project's [legal entity of Rosatom in Finland] significant delays and inability to deliver the project."

"The war in Ukraine has worsened the risks for the project. RAOS has been unable to mitigate any of the risks," the statement added. (ANI/Sputnik)

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(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)