(MENAFN) French nuclear group Areva reported a record net loss for last year of USD5.3 billion after it was forced to absorb costs linked to delays to its flagship next-generation reactor, The Peninsula Qatar reported.
The majorly state-owned company, which had forecast losses of USD5.45 billion, said it would make savings worth around USD1.11 billion over the next few years and announced a financing plan by the end of March.
"The scale of the net loss for 2014 illustrates the two-fold challenge confronting Areva: continuing stagnation of the nuclear operations, lack of competitiveness and difficulties in managing the risks," chief executive said.
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