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Finland’s TVO wins partial ruling in nuclear reactor dispute with Areva

Reuters 19 Jul 17 

*Olkiluoto nuclear project almost decade late* Finnish TVO, French Areva claim billions from each other

* Final decision seen coming in early 2018 (Adds comments, detail)

By Jussi Rosendahl and Benjamin Mallet HELSINKI/PARIS, July 20  – Finnish utility Teollisuuden Voima (TVO) said on Thursday it had received another favourable partial decision from the International Chamber of Commerce (ICC) in its long-running dispute with nuclear reactor supplier Areva.

The companies are claiming billions of euros from each other due to years of delays and cost overruns on the Olkiluoto 3 EPR reactor project in southwest Finland.

The new partial ruling addressed preparation, review, submittal, and approval of design and licensing documents on the project…..

The cost of Olkiluoto 3 was initially estimated at 3.2 billion euros ($3.7 billion), but Areva in 2012 estimated the overall cost at closer to 8.5 billion euros……http://www.reuters.com/article/tvo-areva-arbitration-idUSL5N1KB1V4

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July 21, 2017 - Posted by | Finland, Legal

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