The foundation for Turkey's first nuclear plant is all set to be laid in the southern province of Mersin. This is consequent to the adoption of the bill by the Turkish Parliament on July 15. An agreement was inked by Turkey and the Russian Federation in Ankara on the construction of the nuclear powerplant on May 12, 2010. In keeping with the pact, the two countries will forge cooperation in construction and operation of nuclear power plant in Akkuyu in southern province of Mersin.The collaboration is between Russia's Nuclear Energy State Corporation (Rosatom) and Turkish Energy and Natural Resources Ministry. Within three months following the signing of the agreement, procedures will be launched by Russia to institute a project company. A stake of 51 percent will be held by the Russian authorised institutions in the project company.In the event of the first company failing to achieve the set targets, the Russian Federation will undertake creation of a new project company to fulfil the liabilities of the agreement. Boasting of a total capacity of 4,800 MW, the Akkuyu nuclear power plant is expected to meet 14 per cent of the energy Turkey currently generates.