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Mitsubishi Heavy to invest 30 bil. yen in Areva's new company

TOKYO (Kyodo) -- Mitsubishi Heavy Industries Ltd. said Friday that it will invest some 30 billion yen (250 million euro) in a new firm to be established by French atomic energy company Areva, which is currently receiving a government bailout.

    Mitsubishi Heavy will acquire a 5 percent in the new company, which will reprocess spent fuel.

    Through the investment, Mitsubishi Heavy said it will try to improve its nuclear fuel reprocessing skills.

    "I'm extremely pleased to be able to contribute to the reorganization of France's nuclear power industry," Mitsubishi Heavy President Shunichi Miyanaga said in a statement.


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