Areva CEO Anne Lauvergeon and He Yu, chairman of China Guangdong Nuclear Power Corp, have signed a long-term contract for the supply of 20,000 tons of uranium over a 10-year period. The contract is worth around 3.5 billion dollars.
In addition, AREVA and China National Nuclear Corporation (CNNC) have launched the creation of a 50/50 joint venture, CAST (CNNC AREVA Shanghai Tubing Co.), that will produce and market zirconium tubes for the fabrication of fuel assemblies. Located in Shanghai, the plant will start operation at the end of 2012.
The deals were signed on the occasion of Chinese President Hu Jintao’s state visit to Paris, and in the presence of the French and Chinese heads of state.
Anne Lauvergeon: “These are major agreements. They represent a new stage in Areva’s relations with its Chinese partners. Thanks to its integrated model, Areva is strengthening its ties with the country’s top nuclear power companies, CGNPC and CNNC, and consolidating its strategic positions on the world’s largest nuclear market.”