Rosatom will begin preparatory work for construction of the Smolensk Nuclear Power Plant-2 this year, the Smolensk plant said in a statement citing Rosatom chief Sergei Kiriyenko, Interfax reported Monday.

"We will begin preparatory work for building the Smolensk NPP-2 in 2012, in order for the first replacement block to be built no later than 2024," Kiriyenko said.

Rosatom will invest roughly 45 billion rubles ($1.5 billion) in modernizing the current three blocks at the Smolensk plant, he said. In December of this year, the 30-year operating period of the first block at the plant will expire. Rosatom plans to prolong the license by another 15 years.

(MT)