Ukraine will start building a storage for spent fuel from nuclear power plants in 2008, Ukrainian Energy Minister Yury Boyko said following a meeting with the management of Holtec International, responsible for carrying out the project. The works were previously scheduled to start in 2007, according to RBC.

In two weeks Holtec and the ministry will devise a new schedule of design and construction of a centralized storage of spent nuclear fuel. Boyko pointed out that Ukraine was interested in speeding up the construction, as it would allow the republic to save $800m in the first five years of the operation of the storage. Holtec will finance 90 percent of the project. The total cost of the project is estimated at $400m.

The storage should be constructed within three years after the site is chosen. Ukraine`s Energoatom will pay back Holtec`s investment, with a 10-percent advance during the first year of construction works.