$3.2-bn loss reported by Areva, the French nuclear giant
Areva, the France’s State-controlled nuclear giant reported to have lost around €2.4 billion ($3.2 billion) in 2011. This was much on the back of a troubled uranium mining venture that has been the subject of investigation.
The gloomy figures exhibit a tough year for Areva which is also confronting a global reconsideration of the future of atomic energy in the wake of Japan’s Fukushima disaster. E.g. Germany has resolved to close-down all of its nuclear plants by 2022, forcing Areva to lay off staff in Germany.
2011 also witnessed the departure of Areva’s charismatic chief executive Anne Lauvergeon (known as “Atomic Anne”) subsequent to her loss of the French government’s support.
A Look into the Areva’s partnership / business with INDIA:
- 18 December 2008 – AREVA inked an agreement with the NPCIL (Nuclear Power Corporation of India) for the supply of 300 tonnes of uranium to India for power generation. Thus, Areva became the first-ever foreign supplier of Uranium to India after the NSG waiver.
- 4 February 2009 – AREVA inked MOU to supply 2 to 6 nuclear reactors to the NPCIL. The deal was worth around $12.3 billion (600 billion Rupees), an all-time record for the company surpassing the 8-billion Euro (11.1 billion dollars) deal signed with China a few years earlier.
- Areva is also probable to supply fuel for the project intended in Maharashtra
- Areva will also carry out the construction of a 110/11KV Substation for Infopark at Cherthala in Kerala.
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Month: Current Affairs - March, 2012