Nuclear Industry

The Russian nuclear industry is one of the most advanced in the world and consists of a large sector of more than 250 companies and organizations employing over 190,000 people. The industry includes four large research and production complexes: companies involved in the nuclear fuel cycle, nuclear power, the nuclear weapons complex, and research institutes.

FBK experts have been providing services to enterprises in the industry since 2004. During this time, our experts have gained unique project experience and an excellent understanding of the business processes specific to the industry, the particulars of financial and tax accounting at the sector's enterprises, the specifics of cost and construction estimates in the nuclear industry, and the accounting process at the sector's firms.

FBK has a license to carry out work using information classified as a state secret. At the moment, more than 80 FBK employees have access to information constituting a state secret, including 13 in the valuation department alone.

Our clients include companies owned by the Rosatom State Atomic Energy Corporation, including Rosenergoatom, the TVEL Group, the ARMZ Uranium Holding Co. (JSC Atomredmetzoloto), marketing, production and mining companies such as the Priargunsky Industrial Mining and Chemical Union (JSC PIMCU), JSC Techsnabexport (Tenex), the Chepetsky Mechanical Plant, the Novosibirsk Chemical Concentrates Plant, the Siberian Chemical Plant, the Angarsk Electrolysis Chemical Complex, the Ural Electrochemical Plant, the Vladimirskoe Production Association Tochmash, and the Kovrovsky Engineering Works, as well as engineering design and research centers under the Rosatom State Corporation, such as the State Specialized Design Institute, OJSC Energomash, VNIPIpromtechnologii OJSC, the Scientific-Research Institute of Chemical Technology VNIIChT, JSC NIAEP, the Scientific-Research and Design Institute of Energy Technology NIKIET, the Joint Stock Company Afrikantov Experimental Design Bureau for Mechanical Engineering, the A. A. Bochvar High-Tech Research Institute of Inorganic Materials VNIINM, the All-Russian Scientific-Research Institute for Operating Atomic Power Stations VNIIAES, the United Corporation for Innovations, and the Russian Gas Centrifuge Engineering Center.

For Rosenergoatom in particular, FBK's experts audited the financial statements of the Group and its subsidiaries and provided training for its staff on transfer pricing, accounting, taxation and international financial reporting, as well as implementing projects for the Group such as:
  • preparing methodological recommendations for cost accounting, generating production costs of labor and services, planning expenditures for the purposes of setting tariffs in accordance with the industry features of the nuclear power industry, and updating and revising methodological recommendations in accordance with changes in the sector's regulatory framework and regulations.
  • preparing and obtaining approval from the Ministry of Finance and the Federal Tax Service of the specifics of the tax base in the nuclear power industry.
For 2012-2013, we implemented or are still implementing projects on auditing financial reports, providing expert reports on construction, training experts, and consulting for companies in the industry in accordance with contractual agreements.

The experts at the FBK Investment and Construction Consultancy practice group are carrying out an expert report on the new construction, reconstruction and re-equipping of facilities at the OJSC Khiagda Uranium Mining Company owned by the Atomredmetzoloto (ARMZ) holding company.

FBK experts will conduct an audit of JSC Atomenergoprom's 2012 financial statements.

FBK's Economic and Law School conducted seminars on transfer pricing and the rules on price controls for tax purposes for staff at Rosenergoatom's financial and accounting departments.

FBK Legal's lawyers and attorneys have accumulated great experience in supporting the enterprises owned by Rosatom State Corporation, including in areas such as public procurement, the legal regulation of operations with radioactive materials and the generation of nuclear energy.

FBK Legal is recommended by the international rating The Legal 500: Europe, Middle East & Africa guide 2012 in energy and natural resources and is also recognized as a firm in the top echelon in the field of taxation.

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