EPDK has set rules for the letter of bank guarantee to be given by a Russian company which will construct the nuclear power plant.

With respect to the construction of the facility, Russia will set up a company with a minimum capital of TRY1.4bn ($787m), which will oversee the construction activities.

Rosatom and Atomstroyexport ZAO have been selected by Turkey to build the power plant in the town of Akkuyu on the Mediterranean coast.

The project, which will cost about $20bn, will include four units with a combined generating capacity of 4,800MW.