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France pursues partnership in global nuclear energy market

IRNA - Islamic Republic News Agency

Paris, Feb 7, IRNA -- President Nicolas Sarkozy said that French nuclear group Areva SA must have the capacity to invest to the full amid a worldwide renaissance of atomic power, and the state is considering which industrial partnerships could be profitable for the company.

"I want now for the state to think about the industrial partnerships that could be the most profitable for Areva," Sarkozy said in a speech at Flamanville, northern France, where Electricite de France SA is building the first EPR-type reactor in the country.

Areva is promoting its flagship model, the EPR, as it seeks to ride a revived wave of interest in nuclear power as nations pursue energy security and try to reduce greenhouse gas emissions.

Sarkozy's administration, which wants France to aggressively promote its nuclear expertise, has long been mulling the future of Areva.

Potential scenarios have included a capital increase or a tie-up with power-station equipment and train maker Alstom SA.

The decision by German industrial conglomerate Siemens AG (SI) to sell its minority share of a nuclear-reactors joint venture with Areva to the French company makes the subject all the more urgent, Sarkozy stressed, saying there is "no choice" but to move forward on the dossier.

The French state owns 91% of Areva and 85% of EDF.

Areva's investment certificates closed up 3.8% at EUR358.51 each, against an SBF 120 index that was up 1.9% overall.

Investment certificates don't automatically confer voting rights. The liquidity of the Areva certificates is limited as only 4% of the company's capital floats freely.

Aside from stressing how important it is for France to export its nuclear technology, Sarkozy emphasized separately in his speech that exporting power generated at its expanding domestic nuclear fleet is in France's interest too.

France and Germany, focusing to produce nuclear power as profitable, have created nuisance for Iran over the national nuclear program.

Iran, a signatory to Non-Proliferation Treaty, has renounced nuclear arms and said that nuclear arms have never been useful for the international peace and security.

End News / IRNA / News Code 342895