Mitsubishi Nuclear Fuel and AREVA to Start a New Nuclear Fuel Company

"We're following the move by Mitsubishi Heavy Industries to do business with U.S.-localized advanced pressurized water reactors," said a Mitsubishi Nuclear Fuel spokesman

- Edited By Tom Lamar -

Mitsubishi Nuclear Fuel Company said Tuesday it had set up a 50/50 joint venture with French nuclear power giant AREVA to produce nuclear fuel in the US.

The joint venture will produce nuclear fuel for advanced pressurized water reactors (APWR) to be sold by Mitsubishi Heavy Industries Ltd in the United States, Mitsubishi Nuclear Fuel said in a statement.

Mitsubishi Nuclear Fuel Co, a unit of Mitsubishi Heavy, and AREVA, will create a facility in Richland, Washington, to produce fuel for large reactors. The venture, U.S. Nuclear Fuel Llc, is expected to book annual sales of about $120 Million in 2020. The company said it would start production in the latter half of the next decade.

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