nuclear-news

China nuclear reactors – possible partnership with bankrupt AREVA

Radiation fears in Hong Kong from China’s unproven and possibly faulty nuclear reactors nearby, Post Magazine, Stuart Heaver, 10 Jan 16 “……. the only customer for the American Westinghouse AP1000 reactor is China, which is currently constructing four, in Zhejiang and Shandong provinces. The third-generation AP1000 is also untested in the real world, and the reactors being built in China are years behind schedule, too.

When, in November, Areva announced a possible minority stake sale to another major player, China National Nuclear Corp, and a partnership covering all aspects of the nuclear fuel cycle, some commentators saw it as a bailout by the Chinese. Schneider finds it astounding that anyone would seek a partnership with what he calls a “bankrupt company”.

“Everybody is scared to death about losing billions of euros if these plants don’t open,” says Schneider, adding that all eyes will be on tests in France scheduled for this year and the ASN will be under enormous pressure.

“You don’t need to be an expert to imagine the huge commercial pressure in play,” says Schneider. “But what does it mean when an almost bankrupt company is operating a nuclear facility?”…..http://www.scmp.com/magazines/post-magazine/article/1898583/hong-kong-fallout-chinas-reckless-nuclear-ambitions-feared

January 12, 2016 - Posted by Christina Macpherson | business and costs, China