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UPDATE 1-Areva's Finnish nuclear costs rise sharply -paper

Thu Aug 28, 2008 6:57am EDT

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(Adds Areva comment)

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PARIS, Aug 28 (Reuters) - France's Areva (CEPFi.PA) will have to take a provision because of a nuclear reactor project in Finland where costs have spiralled to 4.5 billion euros ($6.66 billion) from a planned 3 billion, French newspaper Les Echos said on Thursday.

A spokesman for Areva said declined to comment on cost details related to the reactor under construction in Finland but said the plant was the first of four including two in China and one in France.

He said that some costs for the Finnish plant could lead to savings on the others and added the final price for the Finnish plant had not yet been agreed.

The spokesman said that if Areva does need to make provisions, it would announce that with its first-half results due on Friday after market close. (Reporting by Marcel Michelson; Editing by Jason Neely)

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