Areva and EDF set to sign supply contract

French nuclear group Areva and power group EDF were expected to sign a long-term contract this week for the supply of uranium.

The agreement could be signed on Wednesday at a meeting of France's Nuclear Policy Council, headed by French President Nicolas Sarkozy, the French newspaper Les Echos has reported, in a sign ties between the two state-controlled groups are improving.

Les Echos did not have details of the duration of the contract nor of how much uranium Areva would supply to EDF but said the deal could also include joint investment in future projects say Reuters.

The council had asked Areva and EDF, its biggest client for enriched uranium, to strike a long-term supply deal.

The groups, along with EDF rival GDF Suez, were also asked to work together on the development of ATMEA, a medium-ranged new-generation nuclear reactor, which industry observers say is more fit to win deals abroad than the highly powerful and costly EPR.

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