Areva puts off manufacturing facility

Areva has postponed indefinitely further construction of a $360 million nuclear power reactor component manufacturing facility in Newport News, Va. because of an unfavorable U.S. nuclear market, according to Platts.

A slow process to award Department of Energy nuclear loan guarantees, a lack of a U.S. energy policy supporting new nuclear and tax credits for clean energy manufacturing facilities are some of the factors leading to the postponement, Areva spokesman Jarret Adams was quoted as saying. Adams also said the situation at the Fukushima Daiichi nuclear power plant in Japan is not helping the nuclear market.

Areva Newport News, a joint venture between Areva NP Inc. and Northrop Grumman, had been building the 330,000-square-foot facility at Northrop's shipyard in Virginia. The companies broke ground on the facility in July 2009 and manufacturing was expected to begin in mid-2012. In 2010, the manufacturing date was pushed back to 2013. The facility would have built heavy components for Areva reactors, such as reactor vessels and steam generators.

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