Record-breaking deal for Areva/China Guangdong

26 November 2007

China Guangdong Nuclear and Areva have signed an unprecedented €8 billion (US$12 billion) deal for the material and services for two new EPRs at Taishan, in China’s Guangdong province.

Reprocessing, mining and zirconium agreements have also been made.

During a visit of French president Nicolas Sarkozy to China, chairman of China Guangdong Nuclear Power Corporation (CGNPC) Qian Zhimin and chief executive of Areva Anne Lauvergeon signed the agreement.

The deal means that China will be home to the third and fourth EPRs in the world.

As well as providing the reactors, Areva said an engineering joint venture would be created.

The pair also signed a deal under which CGNPC will buy 35% of production by UraMin, an Areva subsidiary operating in Africa.

A back end agreement has also been signed whereby China National Nuclear Corporation and Areva will undertake feasibility studies for a reprocessing plant in China.

A joint venture in zirconium technology has also been formed.

Following the signing, Lauvergeon added: “I am particularly pleased that this agreement also opens the way for a new cooperation between CGNPC and EDF.”

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