Areva-Mitsubishi joint venture progresses

10 July 2007

[MHI, 10 July] Areva and Mitsubishi Heavy Industries (MHI) have signed a memorandum of understanding setting the framework of the joint venture that will soon be established to develop and market a new mid-sized nuclear power reactor worldwide. The two companies have been working together since October 2006 to define the conceptual bases on which the reactor would be developed. In April, they announced that it would be a Generation-III+, pressurized water, three-loop reactor with a capacity of some 1000 MWe. The new design would be marketed at emerging countries wishing to begin nuclear power programs, as well as markets such as the USA. The design process would take three to four years. Beyond that project, the companies hope to cooperate on equipment procurement, services, used nuclear fuel management, and development of fast-breeder and high-temperature reactors. Areva and MHI expect to finalize the joint venture by the end of September.

Further information

Mitsubishi Heavy Industries

WNN: Areva and Mitsubishi to collaborate