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France to boost its nuke industry, seeks foreign investors

France seeks foreign cash to grow nuclear sector

PARIS, Dec 14 (Reuters) By Nina Sovich – France pledged 1 billion euros ($1.5 billion) to support next generation reactor design and said it would seek foreign capital to back its move to the forefront of nuclear energy expansion.

The investment is part of a 35 billion-euro spending plan French President Nicolas Sarkozy Sarkozy unveiled on Monday aimed at improving France’s competitiveness. ………………. The French government, which owns majority stakes in both nuclear reactor maker Areva (CEPFi.PA) and utility giant EDF (EDF.PA), is trying to position France as the market leader in designing and running these power plants…………… To fund these costs, the French government recently asked Areva to sell its electricity business for some 4 billion euros. It has also invited foreign utilities to take stakes in new plants being built in France…………………..

Last month Proglio blasted French energy companies bidding on a contract to build nuclear power plants in Abu Dhabi for its lack of coherence.

December 15, 2009 - Posted by Christina Macpherson | business and costs, climate change, France | antinuclear, AREVA, EDF, France, nuclear, nuclear costs, nuclear spin