The new plant "has to be built for 2020 and should be producing power. Actual (construction) work should begin in 2014," Kubilius said Friday during a visit to the planned construction site in Visaginas, quoted by the BNS news agency.

"Direct negotiations with strategic investors are taking place in a very constructive way," Kubilius said, but refused to disclose the identity of any potential investors.

In November 2010, the Korea Electric Power Corporation (Kepco) unexpectedly withdrew its bid to build the new nuclear power plant.

"What is very important is that our project is a regional one. Our regional partners are well informed about it and therefore the project is highly open and transparent," Kubilius added.

Lithuania expects Latvia, Estonia and Poland to join the project.

"We will sell power to the Baltic market (...) There is considerable demand for energy in our region," the Lithuanian prime minister said, noting the new plant's maximum capacity could reach 3,400 megawatts (MW).

Lithuania shut down its only nuclear plant -- a Soviet-era facility -- in 2009 under the terms of its 2004 European Union entry.

An ex-Soviet Baltic state of 3.3 million which joined the European Union in 2004, Lithuania has repeatedly criticised plans by Belarus and Russia to build nuclear power plants near its border citing safety concerns.

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