TVEL (Russia), state nuclear fuel supplier, sets up the nuclear fuel joint-venture Alvel (Czech Republic) in the Czech Republic in 2011. Its partner in Alvel is the trade and engineering company Alta (Brno, Czech Republic). TVEL arranged an agreement about the setting up of the joint venture with Alta in Dec 2011. Alvel, having a stock of CEK 2 M, will start its operation at the beginning of 2012. Alta will hold a 51% control stake in Alvel. Alvel should be awarded contracts not only in the Czech Republic but also in Hungary and Slovakia. Prospectively, it should provide services also to customers in Western Europe. TVEL would like to build a plant for the nuclear fuel production in the Czech Republic, if Russian companies succeed in the tender for the construction of the third and fourth blocks of the Nuclear Power Station Temelin (Czech Republic). Original Source: Hospodarske Noviny, http://hb.ihned.cz/