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France’s desperate efforts to salvage its uneconomic nuclear industry

nuclear-costs1flag-franceFrance Renews Push for Nuclear Shake Up Economy Minister Emmanuel Macron urges stronger cooperation between the state-controlled businesses By  INTI LANDAURO WSJ April 2, 2015 PARIS—The French government has turned up the heat on the country’s biggest nuclear-power companies to restructure the industry to help stem multibillion-euro losses at state-controlled equipment maker Areva SA.

Economy Minister Emmanuel Macron has asked Eléctricité de France SA–the operator of France’s fleet of nuclear power stations which provide most of the country’s electricity—to come to the rescue of Areva by deepening their industrial and possibly financial ties.

EDF and Areva, which are both majority-owned by the French state, have to cooperate better over the construction of nuclear reactors and tendering for international business, Mr. Macron said on Thursday. He said that he has asked both companies to make proposals in the coming weeks.

The plea falls short of calling for a full-scale merger of the two companies………

Changing international attitudes to nuclear power, notably after the Fukushima disaster in Japan in 2011, have complicated the task for the French government by crimping demand for new business at Areva………

The company faces major hurdles with its contract to build a reactor in Finland, which has suffered a series of delays and cost overruns, and has also made a poor investment in uranium mining,…….

April 4, 2015 - Posted by | general

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