The Lithuanian Ministry of Energy has signed a memorandum of understanding (MOU) with Hitachi recording their agreement to discuss for establishment of the Project Company (PCO) that is to manage the business, to proceed the Visaginas Nuclear Power Plant in Lithuania. In this project, all three Baltic states (Lithuania, Latvia and Estonia) are planned to participate. In order to accelerate this project, Hitachi and Lithuania will proceed further talks regarding details of PCO's function and organization by the first half of September 2014, then submit them to energy authorities in the countries. Lithuania is planning the construction of a new nuclear power plant in Visaginas, in the northeast of the country, with plant operation scheduled to commence in the 2020s. It established a project company, Visagino Atominė Elektrinė (VAE), in 2008, and has engaged in considerable discussion about issues of the project with Hitachi, Latvia, and Estonia. The 1,300 MW power plant is expected to be commissioned in 2021-2022 at the earliest (if construction starts in 2015).
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