Plans for a new nuclear plant have been announced in Finland – the first since Japan’s Fukushima Daiichi accident in March caused a slowdown in reactor construction worldwide.

Fennovoima said Wednesday that it will begin construction in 2015 on a reactor in Pyhajoki, in the north of the country. Reuters reported the project is estimated to cost $5 billion to $8 billion, with the nuclear power consortium selecting a bid from companies likely to include Areva and Toshiba in the next year or two.

The Finnish government approved the construction of two reactors in 2010. The Fennovoima project then overcame a legal challenge last month in Finland’s supreme administrative court.

According to the World Nuclear Association, the country currently has four reactors in operation at two sites. Work at the new Olkiluoto unit 3 reactor is ongoing and will result in the first operating example of Areva’s EPR third-generation pressurized water reactor.