"We intend, before the end of the year, to submit an application to the Economic Development and Trade Ministry for financial resources from the Investment Fund on two of our projects, worth about $400 million," Stanislav Golovinsky said.

He said the first project was a uranium mining and enrichment combine in Khiakda (Buryat Autonomy), worth an estimated $200 mln, and the second was an ore mining facility at the Priargun uranium ore-mining and processing factory with about the same price tag.

Golovinsky said TVEL produced 3,200 tons of uranium a year, while Russia needed 8,500 to 9,000 tons, adding that if funding was secured for the projects, it could boost uranium output to 9,000 tons a year by 2010-11.

The Investment Fund was set up in 2005 to develop major nationwide investment projects with joint public-private financing.

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