The Lithuanian Ministry of Environment has conducted an environmental impact assessment and given permission for the $9 billion Visaginas nuclear plant to be built near the site of the ageing Ignalina nuclear facility, according to a report by Industrial Info Resources (www.industrialinfo.com).

The 3,400-megawatt (MW) plant is a joint venture between the three Baltic states of Lithuania, Estonia and Latvia, but the project will be overseen by the Visaginas Nuclear Power Plant (vae.lt/en/). This is a wholly owned subsidiary of Lithuanian Electricity Organization (LEO, www.le.lt/en), which comprises Lietuvos Energija, RST and the privately owned NDX Energija, which controls the transmission grid company VST AB. Power partners from Latvia and Estonia will be offered shares of up to 17 percent each in the new venture, but LEO will retain 51 percent, according to Industrial Info.