Areva launches an investment program

July 15, 2008 at 5:41 PM

LE CREUSOT, France, July 15 (UPI) -- French nuclear company Areva started an investment arm.

Through its new financial program based in Le Creusot, Areva announced it will work to increase its nuclear power program.

Areva said in its announcement it potentially could get about 80 percent of its nuclear components in or around Le Creusot, a town in the Bourgogne region. By expanding its work in the region, Areva said it will be able to manufacture all its nuclear components there.

Company officials said Anne Lauvergeon, chief executive officer of Areva, signed a deal along with Aditya Mittal, chief financial officer of ArcelorMittal, a steel plant that will produce equipment for Areva.

The arm also will be investing in Areva's subsidiary, Creusot Forge, for additional nuclear reactor parts.

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