ANKARA - The groundbreaking ceremony of Turkey's first nuclear power plant, Akkuyu Nuclear Power Plant, was held Tuesday with the participation of Turkish and Russian presidents via a video teleconference from capital Ankara.

During the video teleconference, Russian President Vladimir Putin said "The successful implementation of the Akkuyu Nuclear Power Plant will be a symbol of the dynamic development of Turkish-Russian partnership."

"The nuclear plant is a new step to further boost Turkish economy," he said, adding that more than 350 Turkish companies are ready to participate in Akkuyu project.

Turkish President Recep Tayyip Erdogan said that Turkey carries out various strategic projects with Russia, including the S-400 air missile defense system, the TurkStream gas pipeline, and the Akkuyu Nuclear Power Plant is only a part of these key projects.

"When all four units are activated, Akkuyu Nuclear Power Plant will be able to provide 10 percent of Turkey's electricity needs, bringing our energy portfolio to a healthier level, which is currently largely dependent on oil, gas and coal," he noted.

The Akkuyu Nuclear Power Plant in Turkey's southern Mersin province will be built with an estimated cost of $20 billion and is due to be launched in 2023.

The construction of Akkuyu project, which was signed with Russia's State Atomic Energy Corporation (Rosatom) in 2010, was halted in 2015 when Turkey downed a Russian warplane near the Syrian border plunging bilateral ties into a crisis.

Rosatom plans to construct the plant with a capacity of 4,800 megawatts in four units and a working life of 8,000 hours per year.

In the first phase of the construction, two units with a capacity of 2,400 megawatts are planned.