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France, Six Nations Sign Accord on EURO 10 Billion Iter Reactor - Tom Cahill
France, the U.S. and five other nations signed a 10 billion euro ($12.8 billion) agreement to build an experimental nuclear-fusion reactor that one day could replace conventional nuclear power plants. The U.S., South Korea, China, India, Japan, Russia and the European Union agreed to finance and share the International Thermonuclear Experimental Reactor, or ITER, at a ceremony at France's Elysees Palace in Paris today.
France, which operates 58 nuclear reactors, fought hard to host the project in southern France, winning out over Japan. French companies including Areva SA, the world's biggest maker of nuclear reactors and Alstom SA, a maker of power stations, will compete with companies such as Toshiba Corp., General Electric Co. and Westinghouse Electric Co. to build the project.
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