March 11, 2018 / 5:42 PM / 7 months ago

Areva to pay Finland's TVO 450 mln euros over nuclear reactor dispute

HELSINKI, March 11 (Reuters) - Finnish utility Teollisuuden Voima (TVO) said on Sunday it had agreed a settlement with French nuclear company Areva and Germany's Siemens in the long-running dispute over cost overruns and delays on their EPR nuclear reactor project.

Areva-Siemens will pay TVO compensation of 450 million euros ($553.73 million), the Finnish company said in a statement.

TVO and Areva-Siemens were claiming billions of euros from each other due to the delays in the Olkiluoto 3 reactor project in southwest Finland. Its start was postponed last year to May 2019 - a decade later than planned.

$1 = 0.8127 euros Reporting by Tuomas Forsell

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