Areva studies Chinese investment

French state-controlled nuclear group Areva was studying a possibility to get investments from China as part of restructuring plan aimed at reversing heavy loss, a local newspaper reported on Monday.

"Concerned about the regulations on state aid which would limit the contribution of public funds, Areva explores the conditions for entry into the capital of foreign investors, mainly Chinese," the business daily Les Echos said.

Citing its own sources, the newspaper said the French leading nuclear group could open talks on needed-capital injection with a Chinese sovereign wealth fund rather than with industrial companies.

In its financial report issued on March 4, Areva said reporting a heavy net loss of 4.83 billion euros (about 5.07 billion U.S. dollars) in 2014 for the fourth consecutive year.

With the aim to face challenges, the group unveiled "a solid transformation plan" with which it pledged to trim costs by one billion euro, bolster cooperation with utility firm EDF and expand operations in China.

In addition, the French group said it would detail a three-year financing plan before publication of first-half results on July 30 that would include more selective capital expenditure, asset disposals and partnerships with an equity component.

Source: Xinhua News Agency