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Latest in the AREVA nuclear soap opera: Areva to pay Finland’s TVO 450 mln euros

 Le Monde 10th March 2018, [Machine Translation] EPR: epilogue of the Finnish soap opera Areva. The nuclear group will pay hundreds of millions of euros in penalties for the
delay of ten years in the Olkiluoto reactor project.
http://www.lemonde.fr/economie/article/2018/03/10/epr-areva-en-passe-de-solder-son-lourd-contentieux-finlandais-avec-tvo_5268784_3234.html

Areva to pay Finland’s TVO 450 mln euros over nuclear reactor dispute https://www.reuters.com/article/tvo-areva-olkiluoto-settlement/areva-to-pay-finlands-tvo-450-mln-euros-over-nuclear-reactor-dispute-idUSL8N1QT0N1  Reuters Staff  HELSINKI, March 11 (Reuters) – Finnish utility Teollisuuden Voima (TVO) said on Sunday it had agreed a settlement with French nuclear company Areva and Germany’s Siemens in the long-running dispute over cost overruns and delays on their EPR nuclear reactor project.

Areva-Siemens will pay TVO compensation of 450 million euros ($553.73 million), the Finnish company said in a statement.

TVO and Areva-Siemens were claiming billions of euros from each other due to the delays in the Olkiluoto 3 reactor project in southwest Finland. Its start was postponed last year to May 2019 – a decade later than planned.

$1 = 0.8127 euros Reporting by Tuomas Forsell

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March 12, 2018 - Posted by | business and costs, Finland, France, Legal

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