Areva faces 50 pct cost rise for Finnish nuclear reactor: report

0 Comments | AFP, August, 2008

PARIS (AFP) — French nuclear group Areva is facing a 50 percent rise to the cost of building the world's first next-generation pressurised water reactor in Finland, the business daily Les Echos reported Thursday.

The cost of constructing the plant at Olkiluoto has risen from three billion to 4.5 billion euros (6.7 billion dollars), the paper reported citing an unidentified source.

The increase was due not only to the global rise in prices, but Areva's having to send in additional workers to "ensure work proceeds better," the report said.

Finnish nuclear safety agency STUK launched a probe earlier this month into whether safety procedures were respected at the site after Greenpeace disclosed confidential documents indicating there were no qualified personnel...