Total, Suez, Areva to build two nuclear plants in Abu Dhabi

by Staff Writers
Paris (AFP) Jan 14, 2008
French nuclear giant Areva, oil company Total and utility group Suez have reached agreement on plans to build two next generation nuclear power plants in Abu Dhabi, Total said Monday.

A Total spokeswoman said the two plants would be based on the third-generation system developed by Areva, the world's largest nuclear power group.

A statement on the deal is due shortly, the spokeswoman added.

French President Nicolas Sarkozy on Sunday started a three-nation tour of Gulf Arab states, having offered to share France's expertise in civilian nuclear technology with the Islamic world.

During a stop in Abu Dhabi on Tuesday, France and the United Arab Emirates are to sign a framework accord for cooperation in developing civilian nuclear energy, a source close to talks between the two governments said earlier.

Amid concerns over Iran's nuclear ambitions and growing regional clout, the six Arab monarchies of the Gulf decided in December 2006 to develop a joint nuclear technology programme for peaceful uses.

On the bourse Monday, Areva was up 0.78 percent at 708 euros while Total added 1.21 percent to 57.72 euros, helped by news of the deal on an otherwise flat market.

Suez, however, was down 2.24 percent to 45.37 euros, hit by news of a large sale of the company's stock.

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CIVIL NUCLEAR

Trade, Iran stand-off driving Sarkozy's nuclear strategy in Gulf

Paris (AFP) Jan 14, 2008
President Nicolas Sarkozy's decision to export French atomic know-how to the Middle East and Africa promises rich commercial rewards, while further isolating Iran over its nuclear ambitions, experts say.

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