Tokyo, July 10, 2007 - (JCN Newswire) - AREVA, the world's largest business group in the nuclear energy field, and Mitsubishi Heavy Industries, Ltd. (MHI) signed a Memorandum of Understanding today, setting the framework of the joint venture that will soon be established to develop and market their new mid-sized nuclear reactor, worldwide.
Since October 2006, AREVA and MHI teams have worked together to define the conceptual bases on which the future advanced reactor will be developed. They have agreed on the main features of the reactor in April this year: an advanced generation 3, pressurized water, 3 loop reactor with a power of around 1100 MWe. It will integrate the latest features already adopted by AREVA and MHI in terms of safety (resistance to commercial airplane crashes for instance), environment (reduced spent fuel and waste) and efficiency (possibility of extended fuel cycles and capacity to use MOX fuel for instance).
This new reactor is designed to address the specific markets where such size of reactor will better fit the grid or the demand pattern.
AREVA and MHI expect to finalize the joint venture agreement by the end of September this year.
About Mitsubishi Heavy Industries
Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one of the world's leading heavy machinery manufacturers, with consolidated sales of 2,820.9 billion yen in fiscal 2011, the year ended March 31, 2012. MHI's diverse lineup of products and services encompasses shipbuilding, power plants, chemical plants, environmental equipment, steel structures, industrial and general machinery, aircraft, space rocketry and air-conditioning systems. For more information, please visit the MHI website at www.mhi.co.jp.
Contact:
Mitsubishi Heavy Industries
Hideo Ikuno,
Daiya PR (for Mitsubishi Heavy Industries, Ltd.)
h.ikuno@daiya-pr.co.jp
+81-3-6716-5277
July 10, 2007
Source: Mitsubishi Heavy Industries
Mitsubishi Heavy Industries (TSE: 7011) (U.S: MHVYF)
From the Japan Corporate News Network
http://www.japancorp.net
Topic: Press release summary
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