Areva Signs EU1.25 Billion Reactor Contract in Brazil

Areva SA (AREVA), the world’s largest nuclear-reactor builder, signed a 1.25 billion-euro contract with Brazil’s Electrobras Electronuclear to complete the construction of the Angra 3 reactor in the Rio de Janeiro state.

The French company will provide engineering services and the digital control and command system for the nuclear center, it said in an e-mailed statement.

The contract brings the number of nuclear reactors built globally by the group to 103. Last month, Areva won a contract worth more than 2 billion euros to supply two nuclear reactors and control systems for a new station at Hinkley Point in southwest England, showing that a six-year lull in orders may be coming to an end.

“The completion of Angra 3 confirms Brazil’s ambitions for its nuclear program and illustrates the pertinence of the source of energy as a solution for sustainable economic development,” Areva Chief Executive Officer Luc Oursel said in the statement.

The Brazilian plant, which is now more than 50 percent completed, is due to start operating by mid-2018, Areva Chief Commercial Officer Tarik Choho said on a conference call today.

Brazil plans to add as much as 5 gigawatts of nuclear power by 2030, and has started talks with various suppliers including Areva and rivals from countries such as Russia, China, the U.S. and Japan, he said.

To contact the editor responsible for this story: Vidya Root at vroot@bloomberg.net; Francois de Beaupuy in Paris at fdebeaupuy@bloomberg.net

To contact the editor responsible for this story: Simon Thiel at sthiel1@bloomberg.net

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