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AREVA nabs €5B worth of services, supply contracts for UK nuclear project

AREVA SA signed contracts with Électricité de France, or EDF, and Nuclear New Builds Generation Co., a joint venture between EDF and China General Nuclear Power Corp., worth more than €5 billion to provide services at Hinkley Point C nuclear power station in Somerset, England.

Under the contracts, AREVA NP also secured a long-term fuel supply agreement to power the two reactors, as well as the delivery of two nuclear steam supply systems, from design and supply to commissioning.

The French nuclear giant will also provide material for fuel fabrication, producing uranium and providing conversion and enrichment services.

This work will begin in the early 2020s, the company said in a Sept. 29 news release.

AREVA narrowed its net loss to €120 million for the first half of the year, as compared to a net loss of €206 million reported for the first half of 2015, as revenues rose 4.4% on a yearly basis to €1.93 billion.