Fortum Corporation STOCK EXCHANGE RELEASE
18 December 2003 1 (1)
FORTUM TO INVEST EUR 185 MILLION IN TVO'S NEW NUCLEAR POWER PLANT UNIT
Fortum will participate in the new fifth nuclear power plant unit in Finland
with a share of approximately 25%; thus Fortum´s investment as an equity share
will be EUR 185 million during 2004 - 2009, entitling to approximately 400 MW
of the plant´s capacity. Fortum will also give a shareholders' loan of
EUR 40 million to the project.
Teollisuuden Voima Oy (TVO) has today made the investment decision
about building the approximately 1,600 MW pressurised water reactor
unit and signed an agreement with a consortium including Framatome
ANP and Siemens. The power plant will start operations in 2009.
Senior Vice President, Corporate Communications
Tapio Kuula, President, Power and Heat Sector, +358 10 45 24112
Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 8,000 professionals in the Nordic and Baltic countries, Russia, Poland and India, and 62% of our electricity generation is CO2 free. In 2016, our sales were EUR 3.6 billion. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com