The leaders of Turkey and Russia marked the official start of work to build Turkey’s first nuclear power station on Tuesday, launching construction of the $20 billion Akkuyu plant in the southern province of Mersin.
The plant will be built by Russian state nuclear energy agency Rosatom and will be made up of four units each with a capacity of 1,200 megawatts.
Russian president Vladimir Putin and Turkey's Recep Tayyip Erdogan marked the start of construction, watching by video link from Ankara.
“When all four units go online, the plant will meet 10 per cent of Turkey’s energy needs,” Mr Erdogan said, adding that despite delays Turkey still planned to start generating power at the first unit in 2023.
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Read more:
Troika summit raises concerns for Syrian peace
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Speaking at a later news conference with Mr Putin, the Turkish president said the cost of the project may exceed the planned $20bn for the 4,800 megawatt plant, part of Mr Erdogan's "2023 vision", marking 100 years since the founding of modern Turkey and intended to reduce Turkey's dependence on energy imports.
Since Russia was awarded the contract in 2010, the project has been beset by delays.
Last month, sources familiar with the matter said Akkuyu was likely to miss its 2023 target start-up date but Rosatom, which is looking for local partners to take a 49 per cent stake in the project, said it is committed to the timetable.
The Interfax news agency cited the head of Rosatom saying the sale of the 49 per cent stake was likely to be postponed from this year until 2019.
Turkish companies have been put off by the size of the financing required as well as by concerns that they will not receive a sufficient share of the lucrative construction side of the deal, two industry sources have said.
Mr Erdogan also said Turkey may co-operate with Russia on defence projects besides the S-400 missile defence system, which Moscow has agreed to supply to Ankara.
Turkey signed an agreement to buy the S-400 system in late December in a move that raised concern in the West because it cannot be integrated into Nato's military architecture.
Iranian President Hassan Rouhani will join his two counterparts for a three-way summit on Syria in Ankara on Wednesday.
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
Creator: Lauren LeFranc
Rating: 4/5
How to come clean about financial infidelity
- Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
- Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help.
- Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
- Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
- Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported.
Carol Glynn, founder of Conscious Finance Coaching
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What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
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Chris%20Jordan%20on%20Sanchit
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CREW
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The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
If you go
The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
WHAT%20IS%20THE%20LICENSING%20PROCESS%20FOR%20VARA%3F
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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
