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