FRANKFURT, March 31 German engineering group
Siemens (SIEGn.DE) expects a "not insignificant" financial
impact from delays in completing a nuclear power plant in
Finland, a German daily reported on Monday.
Frankfurter Allgemeine Zeitung quoted a Siemens spokesman as
saying: "That is certainly aggravating."
French nuclear group Areva CEPFi.PA and Siemens are
building the 1,600 megawatt Olkiluoto 3 reactor on Finland's
west coast, the first new nuclear reactor to be constructed in
Western Europe for more than a decade.
The report said analysts estimated the delays could amount
to 700 million euros ($1.10 billion) to 1.5 billion euros in
Siemens was not immediately available for comment.
The start-up of Finland's fifth nuclear power reactor, seen
as a test case for Europe's nuclear future, had originally been
scheduled for 2009 but at the end of last year was pushed back
to mid-2011. The 3 billion euro project's start had already been
Siemens was forced to issue a profit warning earlier this
month due to project delays and cancelled orders after a review
of three core businesses.
(Reporting by Nicola Leske)