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Mitsubishi Heavy mulls investment in Areva

TOKYO, June 11, 2015

Mitsubishi Heavy Industries would consider investing in nuclear company Areva, which is being bailed out by the French government, the president of the Japanese company told the Asahi newspaper.

"We will no doubt be consulted (by Areva). Because of our long relationship and, if cooperation is sought, we would consider it seriously," Shunichi Miyanaga said in an interview.

Mitsubishi Heavy and Areva are working together on a nuclear plant in Turkey. The 4,800MW plant in the Black Sea town of Sinop, which is estimated to cost $22 billion, will use Atmea1 reactors developed by both companies

"It is something that the French government must decide and there are no concrete talks yet. If they seek (investment), we would appreciate it," he added.

A Mitsubishi Heavy spokesman confirmed the president's remarks when contacted by Reuters. The company's shares were trading little changed at 0144 GMT.

The French government said last week it would recapitalise state-owned Areva after four years of losses and approved power utility Electricite de France's plan to take over Areva's nuclear reactor business.

Analysts and industry sources have estimated Areva needs as much as 7 billion euros ($7.9 billion) between now and the end of 2017.-Reuters




Tags: investment | Nuclear | Areva | Mitsubishi Heavy |

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