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Olkiluoto 3 - The AREVA-Siemens Consortium Appeals to its Client TVO to Commit to Support the Respect of the General Schedule - Following TVO press release issued on July 16, 2012 afternoon, the consortium AREVA-Siemens wants to provide some clarifications regarding the OL3 schedule - AREVA.com
Olkiluoto 3 - The AREVA-Siemens Consortium Appeals to its Client TVO to Commit to Support the Respect of the General Schedule

 

PRZOOM - /newswire/ - Paris, France, 2012/07/16 - Following TVO press release issued on July 16, 2012 afternoon, the consortium AREVA-Siemens wants to provide some clarifications regarding the OL3 schedule - AREVA.com.

   
 
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Last December 2011, the consortium AREVA-Siemens and TVO jointly endorsed the establishment of a shared process to consolidate the OL3 schedule.

This process aiming at optimizing the final phases of the project required intense coordination of the consortium partners with their client TVO. In particular, the consortium had agreed with TVO on specific I&C tasks to be performed together in order to optimize this sensitive and crucial milestone of the project.

Despite the request of the consortium AREVA-Siemens to TVO to act upon and support all efforts and challenging upcoming phases from end of construction to start-up of the plant, it appears that, TVO has not been able to demonstrate so far a clear operational organization to support the main pre-requisites to this success.

On July 6, the consortium AREVA-Siemens notified its client TVO that the planning had to be reassessed and that therefore TVO would be bearing responsibility for any slippage, which appeared during late Spring 2012.

During the first semester of the year 2012, the consortium AREVA-Siemens succeeded to step further, by reaching several significant milestones, such as the completion of the mechanical installations of all major components and a major part of the piping installations, as well as the Fuel Handling equipment and pool’s completion and leak tightness tests.

Therefore, the consortium AREVA-Siemens calls for its client’s full commitment to enable a clear future path for this project.

Remaining uncertainties concerning the estimated loss to completion for AREVA on this project still concern the contract risks and operating procedures for the end of construction completion and testing ramp-up leading to core loading.

AREVA press office:
Patricia Marie / Pauline Briand / Maxime Michaut / Jérome Rosso

AREVA Investors Relations:
Marie de Scorbiac
T: +33(0)1 34 96 05 97 - E: marie.descorbiac[.]areva.com.

Philippine Du Repaire
T: +33(0)1 34 96 11 51 - E: philippine.durepaire[.]areva.com.

 
 
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Olkiluoto 3 - The AREVA-Siemens Consortium Appeals to its Client TVO to Commit to Support the Respect of the General Schedule

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AREVA |
Contact: Press Office - AREVA.com 
+33(0)1 34 96 12 15 press[.]areva.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any AREVA securities in any jurisdiction including any other companies listed or named in this release.

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