French power utilities Electricite de France SA (EDF.FR) and GDF Suez SA (GSZ.FR) will invest 600 million euros ($822 million) to extend the life of a nuclear reactor they jointly own in Belgium to 2025, Les Echos newspaper reports, citing unidentified sources.
French power utilities Electricite de France SA (EDF.FR) and GDF Suez SA
(GSZ.FR) will invest 600 million euros ($822 million) to extend the life of a
nuclear reactor they jointly own in
Belgium
to
2025, Les Echos newspaper reports, citing unidentified sources.
The two companies and the Belgian government are due to sign an agreement for
the ten-year extension of the life of the nuclear reactor located in the town
of
Tihange
in
eastern
Belgium
, the
newspaper said.
The Belgian government and the two utilities have agreed on sharing the profits
made on the reactor. Above a certain amount, the Belgian government will take
70% of the profits, while the utilities will take 30%, the newspaper said. The
government expects to pocket EUR1.25 billion over the ten years.
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