Areva denies report it may have to pay TVO 2.2 bln eur for nuclear plant delays

Thursday, May 22, 2008

PARIS (Thomson Financial) - Nuclear power plant maker Areva denied a report on the website of the French business magazine Capital that it may be obliged to pay 2.2 billion euros in penalties to Finnish power generator TVO for delays in the construction of the Olkiluoto 3 nuclear plant.

The plant is expected to be operational in 2011, two years behind schedule, and the two companies have been disputing over an estimated 1.5 billion euros in cost overruns.

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