French economy minister to seek solution to Areva-Siemens


French economy minister to seek solution to Areva-Siemens' Finland dispute

Friday, Nov 27, 2015

French Economy Minister Emmanuel Macron will head to Finland in the coming weeks to try to defuse a dispute between an Areva-Siemens (AREVA.PA) (SIEGn.DE) consortium and Finnish utility TVO over delays to a nuclear reactor.

"I will make a trip in the coming weeks, at the end of the year or in the new year to discuss this subject," Macron told journalists. "The idea is to find an agreement, and that things progress as best as possible."

The long-delayed reactor project in Olkiluoto, Finland, has weighed heavily on state-controlled Areva's finances.

Finnish utility Teollisuuden Voima (TVO) has a 2.6 billion euro (2 billion pound) claim against the Areva-Siemens consortium at the International Chamber of Commerce's (ICC) arbitration court.

Areva-Siemens have a 3.4 billion euro counter-claim.

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