Quarter 3, 2007

A wealth of expertise from AREVA

Financing Strategies
Changing World p.

18

Staying in Front of the Front-end
Profile of the Future p. 08

Building the Future with China
Regional Focus p. 12

4

Customer Insights
An Innovative and Progressive Alliance

When National Grid devised the “Electricity Alliance”, it opened the door for AREVA’s Transmission & Distribution division to help create a uniquely innovative approach and business model in the industry…

EnergyBusiness Quarter 3, 2007 Publisher Michel-Hubert Jamard Publication Director Céline Roche Design and Production In & Out Concept Contributing Editors Stephen Burgin Jessica Chan Rachael Clamp Arnaud de Bourayne Jacques de Mereuil Pierre Durante Louise Farell Beatriz-Theresa Garcia Cassie Hagan Andrea Jennetta Dominique Lanchet Nancy Lang Nicolas Occis Anne Renzi Regis Simon Geoff Singleton Illustration support Gilles Crest Jason Riley Jean-Marie Taillat
Magazine published by AREVACOM ISSN 1953-5856

8

Profile of the Future
Staying in Front of the Front-end
While many companies are still commenting the nuclear renaissance, AREVA is accelerating its front-end investments to ensure customers will have the services they need for decades to come…

12

Regional Focus
Building the Future with China

AREVA, unlike a lot of other energy companies, is not new to China’s booming electricity market. Recent developments in that country have encouraged the group to reinforce its localization strategy...

Cover: The Image Bank – Customer Insight: AREVA, National Grid – Profile of the Future: AREVA: Philippe Lesage, Armand Borland, Jean-Marie Taillat, Pascal Dolemieux – Regional Focus: EIGHTFISH, AREVA: Pierre Troyanowsky – Track Record: AREVA: Emmanuel Joly, Pierre Troyanowsky – Changing World: Mike Kemp, Panoramic Images, Eric Audras, AREVA: Paiva Bourdon – Business Highlights: AREVA: Pierre Troyanowsky, Jean-Marie Taillat, Gabriel Liesse, UraMin. www.areva.com © AREVA 2007

the question regarding financing is always just around the corner… 22 Business Highlights Enriching the Korean Renaissance EDF Demonstrates Continued Confidence in AREVA Powering the Electro-Intensive Industry ATMEA 1: a New Mid-Sized Reactor on the Way Securing Uranium Supplies At a Glance 3 . Given the huge initial investment required.At a Glance 17 Track Record Forging the Renaissance Recycling without Frontiers 18 Changing World Financing Strategies With worldwide electricity demand predicted to double by 2030 it is increasingly evident that “nuclear” will play a key role in the overall energy mix of countries.

it opened the door for AREVA’s Transmission & Distribution (T&D) division to help create a uniquely innovative approach and business model in the industry… .Customer Insights An Innovative and Progressive Alliance When National Grid devised the “Electricity Alliance”.

confirms that AREVA T&D’s substation track record was one of several reasons why National Grid selected AREVA for inclusion in the Alliance following the tender process in 2006. Electricity Alliance contracts began in March 2007 and runs for an initial five year period until 2012 with a potential five year extension. Each zone was assigned with a “preferred Alliance partner.AREVA T&D’s entry in the “Electricity Alliance” is recent but the company was already well-established in Britain. with AREVA’s gas insulated switchgear. the largest in the country. 400 kV National Grid’s substation.” AREVA T&D. National Grid is reconfiguring the grid and connecting new sources of generation to improve delivery and ensure that enough electricity is supplied to Britain’s power-hungry economic centers. which was built in the 1950s and 1960s.500 miles of overhead lines and around 340 substations with the majority of assets operating at 400 or 275 kV. National Grid’s Alliance manager for the South east. Norton. in joint-venture with Skanska and Mott MacDonald. The Alliance itself was created to upgrade and extend the country’s ageing electricity transmission network. The South East Alliance team was born and now carries out all transmission substation projects for National Grid in the region. UK Geoff Singleton. National Grid divided England and Wales into geographic regions in order to improve access and planning with local electricity distribution network operators. ■ In addition to installing new equipment. Customer Insights 5 . ■ National Grid owns the high-voltage electricity transmission network in England and Wales. which includes some 4. ■ The Alliance involves the whole supply chain and takes into consideration the total life of the assets to ensure efficient and sustainable delivery with a strong emphasis on safety by design. Bringing long-term benefits throughout the industry The National Grid Electricity Alliance ■ The 4-Billion euro. was selected as the preferred alliance partner for the South East Region.

and the seat of government”. The Alliance model demands an open and honest approach to doing business. Skanska. A key distinction is that the South East Alliance is a single team with employees from AREVA.” Creative Solutions for Olympian Challenge That the Alliance with AREVA T&D was assigned to cover the South East Region is not really a surprise. “This provides an Stephen Burgin. says Burgin. which removes the usual internal fighting or competition”. One set of standards for all As a result. explains Stephen Burgin. Much of the country’s infrastructure is managed there and there are major rail networks and several airports. He continues. but one that will bring long term benefits throughout the industry”. by a management team made up of representatives of the four Southeast Alliance partners. Mott MacDonald and National Grid all integrated into “there is a great deal of harmony between the Alliance partners and across the regions. with one set of standards. President of AREVA T&D in the UK “The Alliance approach is the most effective way to make the most of limited resources while promoting health and safety. President of AREVA T&D in the UK opportunity to take health and safety management to a higher level as all the partners are working together. It is the largest of the four regions and requires the most investment—roughly 1 billion euro—over the next five years.” one single organization. In addition. It is one of the most innovative and progressive business models in our industry. “The South East Region includes the Greater London area. notes Burgin. which is both the financial center of the country. England. Operations are directed from the headquarters of South East Alliance based in Stokenchurch.Total Business Harmony “It is an ambitious undertaking. National Grid’s electricity transmission network .

burgin@areva-td. National Grid executive. explaining why AREVA and its Alliance partners were entrusted with the highest profile region. to work as a single identity.” says Geoff Singleton. with clearly defined Preventing power outages and keeping the lights on AREVA is already working for one of National Grid’s important electricity generation customers. Stafford.” “AREVA T&D brings lots of creativity to addressing the challenge of providing solutions to National Grid at the best cost. which owns distribution networks in the London area. contact: Stephen Burgin. EDF Energy. AREVA T&D UK Ltd : stephen.AREVA T&D technology center.” For more Insights. Moreover. on time and with zero defects. President. The company also brings to the Alliance an international supply chain. “Consequently there is pressure on National Grid and its Alliance partners to ensure that the program of works is completed on budget. Singleton concludes: “AREVA has demonstrated its willingness to do whatever it takes to develop something that is exceptional and fantastic. AREVA “has demonstrated to National Grid its ability to work with others. projects and deadlines for the next five years. UK London is hosting the Olympics in 2012 which will in turn lead to further infrastructure development and demand for power.” points out Geoff Singleton.com Customer Insights 7 . the Alliance has made it possible for National Grid to secure its place in the queue for high-voltage substation equipement supplied by AREVA. Together with alliance partners Skanska and Mott MacDonald.

AREVA is accelerating its front-end investments to ensure customers will have the services they need for decades to come… .Profile of the Future Staying in Front of the Front-end While many companies are still commenting the nuclear renaissance.

Less than a year after starting construction of its GBII enrichment plant. adds Durante.operated by AREVA’s subsidiary COMURHEX. “Along with GBII Profile of the Future 9 .” notes Pierre Durante. demonstrating the group’s determination to stay ahead of the supply game. The conversion of the uranium ore into hexafluoride is a key stage in the nuclear fuel cycle before uranium enrichment and fuel fabrication. this new investment will strengthen AREVA’s position in the front-end market and bring utilities the services they need over the long run”. With an annual conversion capacity of 14. France The 610 million euro investment.Malvesi and Pierrelatte . “We’re the first industrial player to invest heavily in uranium conversion” AREVA’s new investment in this sector comes on top of another 29 million euro invested last year in COMURHEX’s production units to maintain production levels at full capacity. the company currently holds around 25% share of the global conversion services market. which the company started to construct in August 2006 to replace an existing facility. announced last May. Chemistry business unit and the modernization of the group’s fuel fabrication facilities in Europe. Sales Director of the Chemistry AREVA’s Pierre Durante. its new uranium conversion facilities project in southern France. The announcement followed another of AREVA’s substantive capital investments: the Georges Besse II (GB II) centrifuge enrichment plant. AREVA announced “COMURHEX II”. Sales Director.500 metric tons uranium (MtU). Pierrelatte. business unit. Georges Besse. will be used to replace existing conversion facilities at two sites . Aerial view of AREVA’s conversion facility. “AREVA is the first industrial uranium player to invest heavily in the conversion sector to re-build its conversion facilities.

Graphic presentation of the completed new facility in Pierrelatte The new complex will eventually be expanded to 21.000 metric tons of uranium per year. the capacity of the new complex will be “We want to guarantee long term supply for our customers” “We’ve always had excellent safety and production performances.000 MtU by the next decade. Bridging the Supply Gap The uranium conversion sector has not seen significant investment since the 1980s. A 7-month production shutdown at a US facility in 2005 seriously affected utilities’ plans to reload reactors. suggest a conversion capacity shortfall of about 50. We are anticipating and have fixed ourselves an achievable schedule. But today’s existing commercial conversion capacity. expanded to 21. a key factor leading to the new AREVA investment is the possibility of supply disruptions.000 MtU to meet market requirements. cannot meet total worldwide reactor requirements. when a 25-year price slump paralyzed the industry. roughly 47. and our decision to build new plants now is driven by our determination to prevent possible disruptions and guarantee longterm supply for our customers.Production Excellence AREVA plans to begin the licensing process in 2007 AREVA’s conversion facility. Besides the projected global capacity shortfall. The COMURHEX II project represents investments of 240-million euro for Malvesi and 370-million euro for the Pierrelatte site.” says Durante. based on 15. Durante observed that aging facilities worldwide experience more disruptions. as secondary supply no longer fills the shortfall. combined with new reactor build forecasts. France and start civil work in 2009 with the first commercial production planned for 2012. a concern voiced by the company’s utility customers.000 MtU Significantly. as well as lessons learned from the group’s 40 years of operational experience.000 MtU annually. Both of the new facilities will integrate innovations from major research and development programs. . likely in the second half of the next decade. Malvési. Durante says that the supply gap.

AREVA has a major strategic advantage in that its existing and future conversion facilities are in the Tricastin site. The Most Comprehensive Range of Products and Services “COMURHEX II is a key element in our strategy of offering customers a complete range of products and services”. where a considerable demand gap must be filled. the existing COMURHEX facilities will continue to operate at full capacity until the new facilities are ready. including competitive front-end products.” he concluded. “These recent moves demonstrate that we are a proactive supplier determined to meet the challenges of the nuclear renaissance.” explains Durante. says Durante.” he continued.Nuclear safety and limited environmental impact were top priorities when AREVA designed the project. For example. where the company also runs enrichment services plant.durante@areva.000 MT less carbon dioxide. They are also located in Europe. licensing process Start of civil engineering work First commercial production Contact: pierre.5 million cubic meters of water less than the existing one. in southern France. Meanwhile. and emit 450. “It is all the more important today to be able to propose integrated services to utility customers.com Panoramic view of the Pierrelatte site Profile of the Future 11 . the new complex will use 1. “We are very attentive to our customers and understand their needs for regular and secure supply. Main Schedule 2007-2008: Early 2009: 2012: Preparation of worksite platforms.

..Regional Focus Building the Future with China AREVA. Recent developments in that country have encouraged the group to reinforce its localization strategy. is not new to China’s booming electricity market. unlike a lot of other energy companies..

Step by Step Cooperation The first high-power commercial nuclear plant in China—Daya Bay in Guangdong near Hong Kong—was supplied by AREVA NP to GNPJVC (Guangdong Nuclear Power Joint Venture) now a subsidiary of China Guangdong Nuclear Power Company (CGNPC). The company also brought to China its considerable skills and operations experience. in Sichuan The transfer of French know-how laid the foundation for future cooperation with other Chinese companies. nuclear power will generate 40 gigawatts (GW) of electricity by 2020 compared to just 9 GW today.Drawing on its long experience and track record of success. The company began its partnership on nuclear plant projects with China in 1986.000 MWe reactors to be built in the coming years would be duplicated from the “French” model. Steam generator for Ling Ao 2 at Shanghai Harbour. The other major project for AREVA was in the field of PWR fuel assemblies manufacturing for China National Nuclear Corporation (CNNC). June 2000 “China’s voracious appetite for electricity – driven by population and economic growth – will increase AREVA’s involvement with the country’s energy infrastructure plans”. explains Arnaud de Bourayne. AREVA is determined to support the country’s ambitious energy plans. Arnaud de Bourayne. including a strong safety culture. now under operation or construction. AREVA’s was more than a supplier. President of AREVA China.970 MWe and began operation in 1994. Subsequently the Chinese government decided that nearly all of the “Generation 2” 1. Under the contract. supplying the nuclear islands of Daya Bay and Ling Ao. “Bringing considerable skills and operational experience” Regional Focus 13 . De Bourayne said the key to the success of the Daya Bay nuclear project was the relationship between AREVA and CGNPC. as well as other equipment for the Qinshan II and Tianwan plants. AREVA was involved in 12 of China’s 15 nuclear power plants. President of AREVA China According to China’s plan. “That includes building not just new nuclear generation capacity. but also transmission and distribution networks for China’s remote Western provinces”. The two pressurized water reactor (PWR) units generate 1.

explains de Bourayne.000-MWe reactors began in December 2005. with commercial operation scheduled for 2010. Although AREVA was not selected in late 2006 for a Generation 3+ reactors procurement for four units on two different sites. partnerships or joint ventures. The reactors began commercial operations in 2002 and 2003. biogas. A third important project quickly followed when CGNPC signed a contract to construct two nuclear reactors at the Ling Ao site in Guangdong province. “Today the facility is the main supplier of fabricated fuel for China’s entire nuclear fleet using AREVA technology.is supplying the primary loop package. AREVA . with two additional reactor units. and wind power. Discussions on the deal are ongoing. CGNPC began the second phase of Ling Ao project. which will be built over the next several years. which includes the reactor. . In January 2007. and associated piping. steam generators. the coolant pumps. In 2005. Construction of these two 1. Thanks to its global expertise AREVA is currently transferring engineering to locally manufacture super critical steam boilers for biomass fired power plants. Making the Most of Localization A key factor behind AREVA strong presence in China is its “localization” strategy. Daya Bay 2 From the EPR to Renewables China to be the third country to build the EPR Besides Finland and France. De Bourayne said the units are the same 985-MWe class as those at Daya Bay. China could be the third country to build AREVA’s EPR. respectively. mine gas. but with “the latest technological improvements”.in consortium with two Chinese partners .Ling Ao phase II under construction. AREVA is also investigating possibilities to set up closer cooperation with Chinese partners. CGNPC is planning to use the “Ling Ao II” model for another six reactors. the government authorized negotiations to open for two EPRs.” de Bourayne said with pride. Primary coolant pump maintenance. waste heat recovery plants. the Chinese government nevertheless has shown interest in AREVA’s advanced nuclear technology. January 2007 province. The group welcomed the involvement of local and national businesses in various nuclear power plants projects through subcontracting. A very fast moving renewable energies market AREVA also plans to bring to China its competencies in renewable energies with turnkey energy solutions ranging from biomass. AREVA will continue to be involved as a partner.

” says de Bourayne. DFEM).” says de Bourayne.While some competitors might see this approach as commercial suicide. From localizing nuclear technologies to manufacturing transmission and distribution equipments. AREVA has always successfully adapted its knowhow and major products to Chinese demand and requirements. Today. Shanghai and Guangdong. there are 200 sales managers in China. continues to expand and plans to acquire more native companies as well as increasing its sales force. are not as developed as Beijing.” de Bourayne AREVA T&D instrument transformers plant. which improves transmission efficiency by 15 to 30 percent. compared to 50 in 2004. one for Nuclear Services (Shenzhen Nuclear Engineering SNE). “This will give AREVA T&D is creating industrial partnerships with local companies for each of the three to five major transmission line projects launched annually in China. in different provinces. direct current technology. The company is also working to increase local fabrication of most of the transmission and distribution equipment it supplies. contributing significantly to the countr y’s energy development programs and self-reliance. Shangai AREVA’s high voltage direct current technology improves transmission efficiency by 15 to 30 percent emphazises. But nowhere is AREVA’s localization strategy more apparent than in its transmission and distribution business. Many of China’s 30 provinces. “There is a huge opportunity for us as power grid development is critical to China’s growth. The AREVA division AREVA T&D the ability to produce locally in line with its customers’ needs and standards”. The country desperately needs solutions to transfer electricity to the West to promote further economic development. one for the manufacturing of primary pumps (with Dong Fang Electrical Machineries. “We will have 10 joint ventures in place by the end of the year. “This is just the beginning of AREVA T&D’s plan for China. AREVA saw it as “a long-term solution for cooperation. particularly in the remote Western part. He also believes AREVA T&D has a distinct advantage over its competitors thanks to the division’s high voltage. Regional Focus 15 .” For example two joint ventures were set up.

5kV medium voltage vacuum interrupters. 110-550kV circuit breakers. Shanghai. Ling Ao. Xiamen and Xi’an Major business deals: • Front-end: cooperation in the development of new fuel assemblies manufacturing line.5-550kV disconnectors. Hangzhou. Guangzhou. Wuhan. Contacts: AREVA China Headquarters (Marketing & Communication): +(86-10) 85 32 2300 ext: 128 Installation of the Ling Ao 1 dome . Tianwan. Deyang. 7. Shenzhen. Nanjing.AREVA in China: Key Facts Main office: Beijing Employees: 2000 Offices and industrial sites: Chengdu. Kunming. Suzhou. A contract of over 100 million euro is expected by the end of the year to supply 18 reactor coolant pumps to Chinese electric utility CNPEC. • Transmission & Distribution: supply of 110-550 kV gas insulated substations. Ling Ao II) and related equipments and services. related technology tranfers (Daya Bay. Jinan.6-40. 380V-500kV automation product.2-52kV medium voltage switchgear. 252-550kV instrument transformers. Shenyang. 72. Daya Bay. 110-550 kV transformers. 3. Hong Kong. • Reactors & Services: nuclear islands design and construction.

When they return. The recent acquisition of Sfarsteel will further increase AREVA’s production capacity for large forgings.demonstrates the group’s ability to supply the international market. Meanwhile. four new AREVA employees. arrived at the company’s complex in France to spend four years gaining hands-on experience with its recycling processes. needed for nuclear islands. Benjamin Karmiol. Dana Jackson. Today.000 metric tons of used fuel and is now universally recognized as a centre of excellence within the industry. Daniel Harper and Nicole Weimer will be able to spread and adapt their knowledge and experience to AREVA’s US back-end fuel-cycle operations. the US explores closing the nuclear fuel cycle through the Global Nuclear Energy Partnership. In 2006. continuously adapting its processes and capacity to meet customers’ evolving needs. a new contract signed with AmerenUE for a second set of heavy forgingspotentially for a US EPR . all Americans. Recycling without Frontiers Track Record 17 . AREVA continues to set the pace in meeting market demand worldwide. The first-of-a-kind initiative reflects AREVA’s determination to anticipate future needs.Track Record Forging the Renaissance Some 40 years after delivering its first reactor vessels for the “Chooz A” nuclear power unit in France and for the “Prairie Island” units in the US. Commissioned in 1966. AREVA’s “La Hague” site has processed over 21.

Changing World Financing Strategies With worldwide electricity demand predicted to double by 2030 it is increasingly evident that “nuclear” will play a key role in the overall energy mix of countries. Given the huge initial investment required. the question regarding financing is always just around the corner… .

which are typically unpredictable and have the potential to jeopardize routine projects and drive costs up. Changing World 19 . There are three primary drivers that must be taken into account. is the logical result of the first two. Director and Deputy Director of AREVA NP Project and Export Finance team. explains Jean-Hugues Perreard and Anne Renzi. “If we come in when the contract is signed. The first is the extraordinary amount of time for procurement and construction of nuclear facilities.” said Perreard.AREVA’s finance team works with utilities to develop the best financing strategies for their particular projects. as well as repayment of capital loans to underwrite the costs. “How you allocate the risk is very important” That’s why AREVA NP’s Project and Export Finance team gets involved at the very beginning of business development initiatives. The last driver. The second is politics. to help customers develop the best financing strategies. Nuclear power projects require billions of euro in capitalization before the first stone is even laid down. long before contracts are negotiated and signed. it’s already too late. With several billion euro at stake nuclear power projects require specific financing schemes. therefore risk reduction plays a huge role in developing financing schemes. risk reduction.

or multi-sourcing. “We try very hard to adapt the scheme to reflect the customer’s specific circumstance. Mitigating Risk AREVA takes a “holistic” approach to financing new nuclear projects.” explained Renzi. such as export credit agencies like France’s COFACE or USA US-Exim.Renzi said one of the AREVA financial team’s key goals is to work closely with customers to determine the most suitable financial arrangements for their project. co-financing. How you allocate the risk is very important. whether through buyer credits. “Before you start a project you need to understand the risk for all the parties involved: from the utilities to the constructors. in order to determine how to structure repayment and amortization. structured financing. For instance. June 2007 . Perreard and his finance team will look at larger market economics such as deregulation and generation capacity.” whether in terms of credit worthiness or applicable banking statutes. The utility secured corporate financing for seven years. which is building the first EPR at its Okiluoto site in Finland. in the case of a new reactor. You need to look beyond the operation of the plant and to understand the electricity market as well.” he explained. “We maintain relationships with highly reputed financial institutions” To that end the group works and maintains relationships with several highly reputed international financial institutions. One example is Finnish utility TVO. the EIB or EURATOM. “It is difficult to mitigate risk. then approached AREVA to secure a portion of the financing through credit facilities. going well beyond just construction and procurement costs consideration. Development Banks and World Bank. AREVA’s EPR under construction for TVO in Finland.

where the Government proposes loan guarantees. “Then we’ll see the real appetite of the market for new-build and eventually private investors moving in on the opportunity”. Increasingly Attractive Financing Conditions Recent studies place nuclear in a strong position on economic competitiveness compared to other energy sources. it remains a complex and challenging task. For more Insights.Moving in the Right Direction Although the financing of new nuclear projects is moving in a positive direction. contact: anne. The OECD Nuclear Energy Agency and the International Energy Agency carried out an economic analysis of electricity technologies in several countries based on a 2005 study which showed that at 5% real discount rate. investor perceptions would change. grants for the first orders and other supportive measures. Moreover. nuclear is still the most competitive technology in 8 countries out of the 12. the long lead times.” Both Perreard and Renzi believe that with just one high-profile and successful new-build project on record. as well as the regulatory and political uncertainties. They are reluctant because of the perceived risks. AREVA financing expertise covers all projects from nuclear to transmission and distribution. Present financing conditions for new build are looking increasingly attractive: low interest rates.renzi@areva. “We will see private investors turn to new build opportunities” Perreard points out that “pure financial private investors are still overly cautious to get involved in new build. capital available. In addition project financing can be further improved by specific support such as in the US. Perreard notes that even in the United States. nuclear stands out as the most competitive technology in 11 countries out of the 12 which provided nuclear data.com Changing World 21 . utilities prefer to have financial support because of “the very specific nature of nuclear.” The US Congress recognized that fact with the loan guarantee provisions of the 2005 Energy Policy Act. at a 10% real discount rate.

Official signing ceremony Powering the Electro-Intensive Industry ALCAN Inc.a leading global materials company signed up with AREVA’s Transmission & Distribution division for a turnkey contract of over 100 million euro to build an electricity supply system for its new aluminum production plant in Quebec. . says: “It demonstrates our commitment and ability to serve and meet the specific needs of electricity-intensive industry customers and represents another breakthrough on this market”. . France. Philippe Guillemot. The contract involves building a high-voltage power rectifier station to convert incoming alternating into direct current. both companies KHNP and AREVA paved a new way of building a strategic partnership to be well prepared for the global nuclear renaissance”. Mr.the world’s fourth largest nuclear power generation company . Work on the 10-year contract is scheduled to start in 2009. Kim Jong Shin. EDF Demonstrates Continued Confidence in AREVA Fessenheim to be upgraded For the third consecutive time. scheduled for 2009.chose AREVA for a long-term uranium enrichment services supply contract. Chairman and CEO of AREVA T&D. President of KHNP said: “with this contract. The contract will be met by AREVA’s future centrifuge enrichment services plant Georges Besse II located in Pierrelatte. EDF has turned to AREVA’s expertise with a contract of more than 100-million euro to upgrade instrumentation & control system and mechanical systems at its thirty-four 900 MWe nuclear power reactors.Business Highlights Enriching the Korean Renaissance Korea Hydro and Nuclear Power (KHNP) .

will offer solid Gen 3 safety features combined with a very high level of availability. Anne Lauvergeon Securing Uranium Supplies AREVA completed a 2. ATMEA 1. Namibia Business Highlights 23 . a new 1. said: “the integration of UraMin into AREVA’s Mining business unit further strengthens our ability to provide customers with longterm secured uranium supplies as part of innovative commercial offers covering the entire nuclear cycle. President of MHI. a pressurized water reactor. market.” Trekkopje site. ATMEA will develop. Commenting on the recent move. The joint venture aims to have the reactor ready for licencing application within less than 3 years. Kazuo Tsukuda. further contributing to AREVA’s diversified production.5 billion dollar takeover of the uranium mining company UraMin. and CEO of AREVA.000 metric tons of uranium per year from 2012.ATMEA 1: a New Mid-Sized Reactor on the Way AREVA and Misthubishi Heavy Industries Ltd. Deposits identified by UraMin in three African countries should yield over 7.000 MWe reactor combining innovative and proven nuclear technologies of both companies. (MHI) announced the creation of a joint venture called ATMEA. AREVA CEO. licence and sell ATMEA 1. Anne Lauvergeon.

France. Imprimerie DRIDE . To that end we would be most grateful if you would complete our on-line reader questionnaire at www. 1978 on data processing and civil liberties.RCS Bobigny B 582 118 014 .“EnergyBusiness” Reader Opinion This magazine was designed as a non-technical publication to give you general insights into AREVA’s major areas of expertise and solutions offered by our group worldwide. We would like to know if you think EnergyBusiness fullfills its mission. Thank you in advance.energybusiness. AREVA . In accordance with French law 78-17 of January 6. 2004. a CNIL declaration was done about personal data collected. rue La Fayette 75009 Paris.com Your contribution will help the group to adjust its various publications to your needs.areva.October 2007 . modified by law 2004-801 of August 6.Contact by letter or by mail the Publication Director.Headquarters 33. Those concerned have been informed of the purpose of personal-data handling and of their right to have access to data concerning them and their right to modify and delete it.