Areva signs uranium supply agreement with India

The agreement includes a commitment from Areva to the Indian Department of Atomic Energy to supply 300 tons of uranium to the Nuclear Power Corporation of India (NPCIL) to power its reactors under the International Atomic Energy Agency control. The contract comes in the wake of the bilateral agreement made at the France-India summit in September 2008 for co-operation in developing peaceful nuclear energy applications. The fuel will supplement the shortages in domestic reserves for use in India's nuclear plant fleet, currently not operating at full capacity. These 300 tons of material from Areva represents more than a third of NPCIL's total installed capacity. Arthur de Montalembert, president of Areva India, said: "Areva has won India's trust for this first ever foreign fuel supply signed since the September 2008 agreement. India has taken the considered decision to give nuclear prominence in its energy mix as a means of meeting its energy needs. And Areva is ready to put its expertise at the service of this challenge."

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