Areva’s Overruns at Finnish Nuclear Plant Approach Initial Cost
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Areva SA, the French nuclear-reactor builder, took a new provision for cost overruns at a plant it’s building in Finland, leaving the door open for more charges as the project is still 2 1/2 years away from completion.
The company said yesterday it will book a charge of about 400 million euros ($491 million) in the first half as Finnish customer Teollisuuden Voima Oyj said this month the OL3 plant will start nuclear operations at the end of 2012 rather than by a previous June 2012 deadline.