Areva, Mitsubishi Heavy to tie-up in nuclear fuel: report

CIVIL NUCLEAR

by Staff Writers
Tokyo (AFP) Dec 21, 2008
Japan's Mitsubishi Heavy Industries and major French nuclear energy company Areva will form a capital tie-up in nuclear fuel production, a report said Sunday.

Areva will buy a roughly 30 percent stake in Mitsubishi Nuclear Fuel Co. and Mitsubishi Heavy will become the nuclear company's leading shareholder, the business daily Nikkei reported, without citing sources.

Areva's new investment will expand its existing ties with Mitsubishi Heavy to building nuclear plants and supplying fuel to them, it said.

Areva's stake will fall short of the 33.4 percent needed to veto decisions at general meetings, the report said.

The supply of nuclear fuel is expected to tighten as construction projects of nuclear plants are on the rise in the world.

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CIVIL NUCLEAR

New cost overrun for Finnish nuclear plant: Areva

Paris (AFP) Dec 19, 2008
French nuclear technology group Areva announced Friday a new cost overrun for a major project in Finland to build a nuclear power plant amid deteriorating relations with Finnish partner TVO.

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