Fortum has decided to participate in the financing of the bidding and engineering phase of TVO's (Teollisuuden Voima Oyj) fourth nuclear unit at Olkiluoto, Finland, with a stake corresponding Fortum's share in TVO. Owners of TVO will make the final decision of commencing the phase.
Fortum owns approximately 26% of the shares of Teollisuuden Voima Oyj (TVO).
According to the decision-in-principle, ratified by the Finnish Parliament in July 2010, the application for a building permit for the Olkiluoto's fourth unit must be filed latest in June 2015.
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Fortum's operations focus on the Nordic countries, Russia and Baltic Rim area. In the future, the integrating European and fast-growing Asian energy markets provide additional growth opportunities. In 2010, Fortum’s sales totalled EUR 6.3 billion and comparable operating profit was EUR 1.8 billion. We employ approximately 10,500 people. Fortum’s shares are quoted on NASDAQ OMX Helsinki.
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