Bloomberg reported that Electricite de France SA will join a group with Areva SA, Total SA and GDF Suez SA that's vying to build nuclear plants in the UAE.

Mr Pierre Gadonneix CEO of EDF said that "We will participate while at the same time being careful not to increase the risks for EDF, so that it will be compatible with our means."

He said that the French companies are vying to build several 1,600 MW civil nuclear reactors in the UAE, which plans to select companies to develop an atomic program by the end of the year with a goal of completing the first plant by 2017. They will be competing against General Electric Company and Korea Electric Power Corporation in a battle GDF Suez SA CEO Mr Gerard Mestrallet predicted will be "ferocious."

Mr Gadonneix said that "After launching the tender the client Abu Dhabi asked that EDF participate in this project."

He said that "At the same time we have our priorities. We have accepted this request because it is in the interest of France's nuclear industry and EDF that the EPR become a reference."

Mr Gadonneix has spearheaded a series of acquisitions by EDF in Europe and the US.

(Sourced from Bloomberg)