Areva, China National Nuclear Corporation Strengthen Nuclear Ties with Joint Ventures

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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--China is pursuing strategic nuclear power agreements, via its government and multinational companies.

During a state visit to France by Chinese President Xi Jinping, a series of agreements were signed by Areva (OTC:ARVCY) (Paris, France) and the China National Nuclear Corporation (HKSE:2302.HK) (CNNC) (Hong Kong) to continue the Franco-Chinese strategic partnership, which celebrated its 30th anniversary in 2013.

An agreement was reached related to a used-fuel and recycling facility project. Industrial negotiations for the project are ongoing, and plans to define the distribution of tasks and responsibilities are being finalized in line with the initial project schedule. The negotiations soon will reach the commercial phase.

Both companies plan to expand their cooperation in the operational support and maintenance of the future facility, as well as the used-fuel logistical chain, which is expecting strong growth in China over coming years.

Two additional agreements cover the development of the strategic partnership by identifying all opportunities for cooperation in all civil nuclear fields, in the fuel cycle as well as reactors and services, and for the creation of a joint venture in the field of digital safety instrumentation and control (I&C) systems.

The joint venture (Areva 49%, CNNC 51%) will supply the TELEPERM XS I&C platform to the Chinese market and increase Areva's presence in a growth market.

For related information, see April 1, 2014, article - Siemens Strikes Broad Power Industry Deal with China, Comes Under Fire for Russian Meeting.

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