Nuclear, Reactors

Areva and CGNPC sign the world’s biggest nuclear power contract

26 November 2007 – During the State Visit of French President Nicolas Sarkozy to China, Qian Zhimin, Chairman of CGNPC (China Guangdong Nuclear Power Corp.) and Anne Lauvergeon, CEO of Areva , signed an agreement worth in excess of €7m ($10.4bn) for the nuclear power industry.

Through a series of agreements, Areva, in conjunction with CGNPC, will build two new generation EPR reactors and will provide all the materials and services required to operate them. The agreements mark the start of a global and sustainable cooperation, which will include developing shared engineering skills.

In the same vein, the two chairmen signed long-term agreements for the supply of uranium.

The EPRs will be built in Taishan in Guangdong province.

This partnership strengthens the position of the EPR design in the new generation reactor market – following Finland and France, China will be home to the third and fourth EPRs to be built in the world.

Following the signing ceremony held in the presence of the French and Chinese heads of state, Anne Lauvergeon said: “In 1986, the Daya Bay contract laid the foundations of our cooperation with China. This latest agreement, a sustainable and mutually beneficial partnership for both countries, marks the beginning of a new era. This is a major milestone in the history of the Areva group and the biggest sales success ever on the international market for the French nuclear industry.”

“I am also delighted that this agreement paves the way for cooperation between CGNPC and EDF,” added Lauvergeon.