Reports say Areva and China will sign nuclear deals

A newspaper has reported that French nuclear reactor company, Areva is going to sign a deal with China. The deal is expected to be $3 billion and for supplying to China Guangdong Nuclear Power Corp (CGNPC) some 20,000 tons of Uranium for next 10 years. The report appeared in Les Echos.

The contract is going to be signed between the two parties when Chinese President Hu Jintao comes for a visit to France during this week.

Areva will also likely announce progress in negotiations with CGNPC over the construction of two new-generation nuclear reactors, the newspaper said, without citing sources.

Besides this it is also expected that Areva will try to restart negotiations with China National Nuclear Corporation for starting up of construction of nuclear reprocessing facility.

As per the information provided till now, during Hu's visit many economic and aerospace issues will be discussed. Environment will also form an important area of discussion during the meet. These talks are important for both the nations. Major consideration is for the delivery of two additional EPR nuclear reactors. Nuclear business is one of the fastest growing grounds for enterprises.