E-Mail   |   Comments   |   E-Mail Newsletters   |   RSS

AFX News Limited
Signing of Areva EPR order in China delayed - French source
07.30.07, 8:34 AM ET



PARIS (Thomson Financial) - France and China have delayed the signature, scheduled for tomorrow, of an agreement for French state-controlled group Areva to build two EPR nuclear power reactors for China Guangdong Nuclear Power Corp, a member of the French delegation said.

The delay is for technical and scheduling reasons, the source said.

The principal of a letter of intent is still current but the date remains to be fixed, the source said.

Earlier, a source close to the deal confirmed that the value of the order is likely to be around 5 bln eur, rather than the 6 bln eur estimated by analysts in the light of the 3 bln eur valuation of Areva (other-otc: ARVCF.PK - news - people )'s contract to build the Olkiluoto 3 plant in Finland, the only EPR reactor under construction.

Action group Sortir du Nucleaire said the deal could be 'broadly lossmaking.'

It is 'certainly far from being a good deal for France', which seems to be selling two EPR third generation reactors 'for the price of one', the campaign group said.

Calling for the cancellation of the contract, Sortir du Nucleaire said French people risk having to make good the losses through 'hidden' state aid to exports.

Andrew.Newby@Thomson.com

an/gp

COPYRIGHT

Copyright AFX News Limited 2007. All rights reserved.

The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.

Neither the Subscriber nor AFX News warrants the completeness or accuracy of the Service or the suitability of the Service as a trading aid and neither accepts any liability for losses howsoever incurred. The content on this site, including news, quotes, data and other information, is provided by AFX News and its third party content providers for your personal information only, and neither AFX News nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon.




More On This Topic
Companies: CEI | ARVCF.PK

Article Controls

E-Mail   |   Comments   |   E-Mail Newsletters

del.icio.us   |   Digg It! Digg It!   |   My Yahoo!   |   Share   |   RSS


Related Sections
Home > News & Analysis



News Headlines | More From Forbes.com | Special Reports    
Subscriptions >

Subscribe To Newsletters Subscriber Customer Service



  
ADVERTISEMENT
Related Business Topics
Starting A Small Business Small Business Loans

Trading Center
Brought to you by the sponsors below
 
 




CEO Book Club
Book Review
Warren Ellis
Book Review
Cyber-Libertarianism
Andrew Egan
In Warren Ellis's debut novel, people without power search for freedom in a decaying America.