India Getting Up To 6 New Nuclear Reactors In $10 Bn Deal


French nuclear company Areva scored a big contract with India yesterday. Areva will provide technical assistance for building at least two, but as many as six, of its Evolutionary Power Reactors (EPRs). The deal is worth up to $10 billion.

This means the French company will launch 14 reactors in the next 10 years, a boon for the French economy, as the companies that make parts for the reactors will also receive new orders. What’s good for the French is bad for the U.S., though, as rival Westinghouse, which also wants to be a global leader in nuclear reactors is losing business.

India says it will work with other countries as it expands its nuclear ambitions. The country wants to build 40 new nuclear reactors by 2032, which equates to $80 billion in spending.