Member access

4-Traders Homepage  >  Shares  >  NASDAQ OMX HELSINSKI LTD.  >  Outokumpu Oyj    OUT1V   FI0009002422

OUTOKUMPU OYJ (OUT1V)

22
SummaryChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Russia's Rosatom says in talks with Finnish firm on nuclear reactor

02/23/2013 | 09:36am US/Eastern

Nuclear consortium Fennovoima has held talks with Russia's Rosatom over a reactor supply deal for its plant in northern Finland, an executive of the Russian nuclear company told Finnish radio.

Fennovoima has said it would choose this year between two potential suppliers, Areva (>> AREVA) and Toshiba (>> Toshiba Corp), but Rosatom on Saturday said Fennovoima had also recently opened talks with the Russian firm.

"That they contacted us came as a quite a surprise to Rosatom," Jukka Laaksonen, a vice president in Rusatom Overseas, Rosatom's export branch, said in a radio interview with national broadcaster YLE.

Laaksonen said it was possible that state-owned Rosatom could invest in Fennovoima's project, which it has estimated will cost around 4 to 6 billion euros.

Fennovoima declined to comment.

Last year's exit from the consortium of German utility E.ON (>> E.ON SE) raised doubts over plans to build the reactor in Pyhajoki.

Fennovoima's remaining owners, some 60 Finnish companies, this month said they would take on E.ON's stake of 34 percent, but there is still concern over the project's financing and know-how.

The proposed plant, the first reactor site announced after the disaster in Fukushima, Japan, is aimed at providing cheap energy to shareholders such as stainless steel maker Outokumpu (>> Outokumpu Oyj), retailer Kesko (>> Kesko Oyj) and subsidiaries of Swedish metals firm Boliden (>> Boliden AB). Production is due to start in the 2020s.

While other European countries are trying to phase out nuclear power, Finland is going ahead with its plans to build more in a bid to reduce carbon emissions and curb its dependence on electricity imports.

Finland's long, cold winters require high energy consumption and its forest and steel sectors rely on cheap and stable electricity.

(Reporting By Jussi Rosendahl; Editing by Rosalind Russell)

Stocks treated in this article : Toshiba Corp, AREVA, Boliden AB, E.ON SE, Kesko Oyj, Outokumpu Oyj
React to this article
Latest news on OUTOKUMPU OYJ
05:16a OUTOKUMPU : Proposal by the Nomination Board to the Annual General Meeting
01/19 AURION RESOURCES : Discovers New Gold Mineralization in Northern Finland
01/16 OUTOKUMPU : Publishing of the 2014 annual accounts bulletin
01/12 AVALON MINERALS : Drilling confirms new Footwall Copper Zone at the Viscaria Pro..
2014 OUTOKUMPU : Construction to begin on LNG terminal in Tornio
2014 OUTOKUMPU : to invest in utilizing liquefied natural gas in Finland
2014 OUTOKUMPU : Tasman Expands Critical Metal Portfolio with Acquisition of Two Chro..
2014 OUTOKUMPU : to invest in utilizing liquefied natural gas in Finland
2014 OUTOKUMPU : launch of plan 2015–2017 of share-based incentive programs
2014 OUTOKUMPU : Update on impact of the recent technical issues in Calvert and marke..
Advertisement
Chart
Duration : Period :
Outokumpu Oyj Technical Analysis Chart | OUT1V | FI0009002422 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF