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Science And Nature

France Will Spend 10 Billion Euros to Relaunch Nuclear Energy

THE FEDERAL GOVERNMENT of France offers to buyout minority shareholders in the heavily indebted EDF (Frances) nuclear company.

The offer to minority shareholders will undoubtedly be coming in at 12 euros per share, meaning the operation to totally nationalize the group will definitely cost 9.7 billion euros ($9.9 billion).

The electricity provider happens to be 84-percent owned by hawaii, with institutional and retail investors holding 15 percent and staff one percent.

EDFs finances have already been weighed down by declining output from Frances ageing nuclear power stations, which it manages, and the state-imposed policy to market energy at below cost to consumers in order to help them pay their energy bills.

EDF will have to spend about $50 billion fromnow to 2030 to increase the life span and fix up existing nuclear reactors.

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