July 20, 2017

OL3 Project: the International Chamber of Commerce makes a partial ruling on arbitration

In the framework of the arbitration procedure concerning the Olkiluoto 3 EPR reactor project, the International Chamber of Commerce (ICC) has issued a partial ruling in favor of TVO.

This ruling representing nearly 400 pages will be studied by AREVA. It does not address the amounts of the reciprocal claims made by AREVA / Siemens and by TVO, nor does it rule on on all the key issues of the arbitration.

The final decision by the ICC is still awaited in early 2018.

The project itself is proceeding according to the schedule fixed in 2014 and the planned milestones are being met. A major milestone was reached on July 1, 2017 with the completion of the cold-run tests.

Finalization of the main electromechanical installations is in progress and plant completion work underway.

Delivery of the first fuel core is planned for autumn 2017 and the commissioning date is still set for the end of 2018.