Areva offers NPCIL stake in enrichment plant

 Areva offers NPCIL stake in enrichment plant

Nuclear  power major in France is open to giving a minority stake in uranium enrichment  plant. One  of the largest industrial investment projects currently under way in France -to nuclear power corporation of India (NPCIL) though a formal offer has not been made, a senior Areva executive said the two companies have held informal discussions on the proposal .

French  company is offering NPCIL participation  in a number of uranium projects though  this would  be independent of agreement it is negotiating for two EPR reactors. “ The enrichment plant in France which has a project cost of 3 billion dollars  offers an opportunity for minor share holding “ Arthur de Montalembert  chair man and managing director Areva India said recently.

Japanese and Korean companies have shown interest in the plant that was inaugurated earlier  this week “ if NPCIL is interested it can take equity. we have had  an informal exchange information on that NPCIL is aware  of opportunity though  no formal offer has been made.

De Montalembert though clarified that the opportunity for investment in the Georges Berse-11 enrichment plant situated in south of France and the company uranium mines  was not related to sale of EPR reactors. “ “Our priority is developing the Jaitapur project and signing the contracts. The investment in fuel cycle from running mining to enrichment is different “ he added.

The  French company is likely to sign a dozen  of so agreements with government owned NPCIL for Jaitapur nuclear power plant in Maharashtra . “we will be able to sign the final contracts for equipment ,services,engineering,fuel and fuel services :” said  De Mantalembert. 

“Areva follows a model that gives its customers a stake in mines that it operates in countries Canada ,Kazakhstan ,Niger and Jordan. our partners are customers who want to secure future supply in addition to contracts, by becoming part investors. “

Even  during the inauguration of second stage of its  enrichment plant in France on Tuesday, more than 100 customers from countries were  present. The  plant which will enhance Areva’s share in enrichment to 25 per cent will be fully operational zed by 2016.

Reactor  Reaction

Areva’s European pressurized reactors (EPR s) which are planned for Jaitapur nuclear power plant and have come in for criticism for being not tested. Use of advanced technology based on previous generation reactors. Areva India CMD Arthur de Montalembert said the first  EPR  reactor in  Finland due for loading in two years. Stating that delay in commissioning that was on account of absence of a supply chain he said. India  has not face this problem.