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Finnish TVO set for long row with Areva, Siemens
Helsinki (AFP) Oct 20, 2009 Finnish utility TVO said Tuesday it expected a lengthy dispute with France's Areva and Germany's Siemens over cost over-runs and delays in their construction of a Finnish nuclear reactor. The plant being built in Olkiluoto, western Finland, was originally scheduled to start operating this year, but the project has fallen more than three years behind its original schedule, prompting a bitter fight between the three companies. "These matters are not easy and they will take their time. It was the supplier who filed for the arbitration first and then in April 2009 we sent our reply with our counterclaim," Anna Lehtiranta, head of TVO's communications, told AFP. The Paris-based International Chamber of Commerce has been processing the quarrel since late 2008. In a financial report for January-September published on Monday, TVO said it had demanded that Areva and Siemens pay compensation of around 1.4 billion euros (2.1 billion dollars) for the delays. Meanwhile Areva and Siemens have asked for around one billion euros from TVO, arguing that the project has encountered "more rigorous security requirements" than initially foreseen. TVO said there was another arbitration process under way related to a technically resolved issue at the Olkiluoto construction site, but the amount of that claim was "minor." Last week TVO said the new reactor's start date could be delayed beyond June 2012 and said it had asked for a new timetable from Areva and Siemens. "We are waiting for a new estimate from the supplier. We have not received a reply from them," Lehtiranta said. The Finnish firm posted in the first nine months of this year a loss of 30.4 million euros on turnover of 226 million euros. Share This Article With Planet Earth
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Iran, Western powers hold 'constructive' uranium talksVienna (AFP) Oct 19, 2009 Iran and world powers on Monday held new talks on a uranium enrichment deal which UN watchdog chief Mohamed ElBaradei said got off to a "constructive" start though no breakthrough was announced. "We had this afternoon quite a constructive meeting. We're off to a good start. Most of the technical issues have been discussed," ElBaradei said after a meeting between Iran, France, Russia and the ... read more |
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