AREVA, China National Nuclear consider large-scale partnership

AREVA, Inc., and China National Nuclear Corp. (CNNC) have reached a memorandum of understanding that could potentially lead to a future partnership between both companies, they announced on Monday.

The agreement was made with both Chinese and French heads of state present, President Xi Jinping and President François Hollande, respectively.

This partnership would fall in line with a joint declaration made between both countries earlier this year.

“This project offers numerous opportunities for both AREVA and CNNC," Philippe Varin, chairman of AREVA’s board of directors, said. "Strengthening the cooperation with our Chinese partners is an integral factor for AREVA’s future success.”

Under the agreement, there will be the possibility of an acquisition of a minority stake in AREVA by CNNC. There is also the chance that both companies would strike partnerships in areas relating to uranium mining, decommission and dismantling activity, logistics and other operations associated with the nuclear fuel cycle.

AREVA, Inc., is an international company that specializes in many areas of the nuclear industry including the design and manufacture of nuclear reactors, components and fuel assemblies. They also offer services in decommissioning, maintenance and plant management.

CNNC is a state-owned company that serves as the primary Chinese entity involved with nuclear energy development.