Areva Wins $11.9 Billion China Nuclear...Areva Wins $11.9 Billion China Nuclear Reactor Accord (Update3)
By Francois de Beaupuy and Wang Ying
Enlarge Image/Details
Nov. 26 (Bloomberg) -- Areva SA won an 8 billion euro ($11.9 billion) agreement from China to build nuclear reactors, a record for the French company, as the fastest-growing major economy diversifies energy supplies.
China Guangdong Nuclear Power Group Co. will order two nuclear reactors from the world's largest maker of the units, Areva Chief Executive Officer Anne Lauvergeon said in Beijing today during President Nicolas Sarkozy's visit to the Chinese capital. Guangdong Nuclear also gains access to 35 percent of production from Areva uranium unit UraMin Inc., she said.
Areva and Toshiba Corp.'s U.S.-based Westinghouse Electric Co. unit are competing to build as many as 26 reactors by 2020 as China turns to atomic energy to cut pollution and reliance on oil. The nation needs to build two reactors a year to meet a target of getting 4 percent of its power supply from nuclear plants by 2020. China also wants to gain nuclear power expertise.
.....
https://www.bloomberg.com/apps/news?pid=20601087&sid=ae6bru1DIlAg&refer=home