Mitsubishi Heavy Industries to consider proposed AREVA investment

Mitsubishi Heavy Industries (MHI), Ltd., announced on Friday that they are considering a proposal that would facilitate a minority investment into AREVA NP.

AREVA NP is the branch of the French corporation that specializes in nuclear power plant services.

MHI states that both companies have worked in collaborative projects in the past including a joint venture in 1991 focused on the fuel cycle business and its development and the conclusion of an agreement the creation of the ATMEA1, a pressurized water reactor (PWR).

According to the announcement, MHI aims to facilitate stronger partnership between France and Japan to develop new nuclear reactor technology in line with previous work between the two companies.

It has been reported that the Electricite de France S.A. (EDF) may attempt to acquire AREVA NP.

"Through the years MHI, EDF and AREVA have enjoyed favorable relationships of cooperation applying their respective technologies, and I have high expectations that an investment by MHI into AREVA NP would realize and strengthen the ties between the Japanese and French nuclear energy industries further, which in turn will enable us to contribute to the improvement of the quality of nuclear power plants around the world."

According to the company, a decision is expected to be made to AREVA and EDF.