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France's Areva Forges Russian Alliance in Nuclear Production Supply Chain, an Industrial Info News Alert
(Marketwire Via Acquire Media NewsEdge) JOHANNESBURG, SOUTH AFRICA, July 23 / MARKET WIRE/ --
Researched by Industrial Info
Resources (Sugar Land, Texas) -- One of the international players best
positioned to ride the wave of the new nuclear power plant building surge
is Areva (EPA:CPI) (Paris). Currently, the company is following through on
a memorandum of understanding it signed at the end of 2007 with Russia's
leading uranium mining company, state-owned Atomredmetzoloto (ARMZ). In
addition to the Areva connection, ARMZ has also established partner
relations with Japan's Mitsui & Company Limited (NASDAQ:MITSY) (Tokyo) for
investment in uranium prospecting and mining. It is also developing
cooperation in geological prospecting and the development of uranium
prospects in promising areas with South Korea's LG International
Corporation (SEO:001120). In Africa, Areva has an agreement with Russia's
second largest bank, Bank VTB OAO (MCX:MTBR) to start uranium prospecting
in Namibia. In France, Areva has launched a joint $112 million investment
program with the world's largest steel company, ArcelorMittal (NYSE:MT)
(Luxembourg), to raise ingot production capacity at Industeel's Le Creusot
plant in Burgundy for the forging of nuclear components, such as nuclear
reactor vessels and steam generators.
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