Fukushima incident causes Areva to review investments

Areva is reviewing its investments after the Fukushima nuclear disaster in March impacted decisions on nuclear investments worldwide.

"In an uncertain environment, with a market that will develop at a slower pace than what we had anticipated, we are led to review a number of our investment plans," said Areva Chief Executive Luc Oursel.

"We go through these investment plans one by one and it is possible that we may decide to delay some of them or spread them over a longer period to limit risks and improve our financial situation," said Oursel.

The comments sounded a rare note of caution from a representative of the French nuclear industry as France, the world's most nuclear-dependent country, has repeatedly said Fukushima had not dented global interest in atomic-based energy production.

The nuclear industry is a key driver of jobs and exports for France, and analysts say the Fukushima disaster may have shrunk the global nuclear market by as much as 30 percent.

Since the radiation leaks in March, countries such as Germany, Switzerland and Italy have shelved nuclear plans but others such as Britain, Poland, the Czech Republic or South Africa said they would go ahead with the construction of new plants.

But Oursel said appetite for new atomic projects was still there, adding Areva was actively negotiating possible deals in countries such as China, India and Britain.

Oursel gave no details on the investments Areva could postpone, saying the company would announce this when it unveils its new five-year strategy plan in December.

The full story is available at Reuters.