China has underpinned its commitment to the rapid expansion of nuclear energy by signing a record Euros 8 billion contract with Areva for the construction of two new generation nuclear reactors.
The deal was signed during a visit to Beijing by French President Nicolas Sarkozy and is described by Areva as “unprecendented in the world nuclear market”. It follows a deal made in July for four reactors from Westinghouse Electric of the US.
“This partnership represents a major step in the history of the Areva Group,” said Areva CEO Anne Lauvergeon. “It is the largest international commercial contract ever won by the French nuclear industry. It … reinforces our presence in one of the most promising markets for decades to come. I am particularly pleased that this agreement also opens the way for a new cooperation between CGNPC and EDF.”
Through a series of agreements Areva and China Guangdong Nuclear Power Corp (CGNPC) will build two third-generation EPR reactors in Taishan, Guangdong province, making China the third country in the world to use the technology.
CGNPC has also committed to buy a 35 per cent stake in UraMin, a uranium producer that was acquired by Areva in July and which has extensive operations in Africa.
Areva CEO Anne Lauvergeon also signed a deal with China National Nuclear Corporation (CNNC) to investigate the feasibility of building a spent fuel reprocessing-recycling plant in China. Areva and CNNC have also created a joint venture in the area of Zirconium.