Areva Faces Cost Overruns In Finland Plant Delay

French nuclear engineering company Areva (CEI.FR) may have to help cover the extra costs of between EUR500 million and EUR700 million from the delay in the construction of a nuclear power station in Finland, according to La Tribune on Monday. The construction of Finland's flagship Olkiluoto 3 nuclear power plant will be delayed due to safety requirements taking longer than anticipated to implement, owner Teollisuuden Voima Oy said Friday in a statement. The plant's supplier, a consortium which includes Areva and Germany's Siemens AG (SI), has informed TVO of the delay, postponing the start of commercial operation until 2011, according to the Finnish company.