Nuclear Development
Bushehr is twelve kilometres from the site of the Bushehr Nuclear Power Plant being built in cooperation with Russia. The work was begun by the Bonn firm Kraftwerk-Union A.G., a unit of Siemens AG, which contracted to build two nuclear reactors based on a contract worth $4 to $6 billion, signed in 1975.
Work stopped in January 1979, and Kraftwerk-Union fully withdrew from the project in July 1979, with one reactor 50% complete, and the other reactor 85% complete. They said they based their action on Iran's non-payment of $450 million in overdue payments. The company had received $2.5 billion of the total contract. Their cancellation came following the 1979 Iranian Revolution. Iran subsequently requested that Siemens finish construction, but Siemens declined. Shortly afterwards Iraq invaded Iran and the nuclear programme was stopped until the end of the war. The reactors were damaged by multiple Iraqi air strikes between February 1985 and 1988.
In 1995, Russia signed a contract to supply a light water reactor for the plant (the contract is believed to be valued between $700 million and $1.2 billion USD). The agreement calls for the spent fuel rods to be sent back to Russia for reprocessing. It has been reported that Russia has ordered Iran's first nuclear power station to be started up in March 2010 to coincide with the Iranian New Year. One of the unidentified sources said that testing at the plant was going well.
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