PARIS:

The Pak Banker - - COMPANIES/BOSS -

French wa­ter and waste group Ve­o­lia said it bought U.S. nu­clear waste clean-up com­pany Ku­rion for $350 mil­lion as it chases a slice of a mar­ket seen worth $210 bil­lion over the next 15 years. Ve­o­lia said it ex­pects the new busi­ness to con­trib­ute an­nual rev­enue of $350-400 mil­lion by 2020, in­clud­ing about $250 mil­lion from waste treat­ment and $100-150 from de­com­mis­sion­ing nu­clear in­stal­la­tions.

Ku­rion, which was one of few in­ter­na­tional firms in­volved in the early stages of the clean-up of the Fukushima nu­clear disas­ter in Ja­pan in 2011, cur­rently has an­nual sales of about $100 mil­lion. Ve­o­lia gen­er­ates about $20 mil­lion from clean­ing up nu­clear waste. "Bring­ing Ku­rion and its em­ploy­ees into Ve­o­lia is go­ing to en­able us to de­velop a world-class in­te­grated of­fer in nu­clear fa­cil­ity clean-up and treat­ment of low-level ra­dioac­tive waste around the world," Ve­o­lia Chief Ex­ec­u­tive An­toine Frerot said. Ve­o­lia plans to tar­get the United States, Bri­tain, France and Ja­pan, which to­gether amount to a mar­ket of $118 bil­lion by 2030, and will fo­cus on low-level ra­dioac­tive waste, which rep­re­sents 97 per­cent of the vol­ume but just 0.1 per­cent of the ra­dioac­tiv­ity. There are about 400 nu­clear plants in op­er­a­tion world­wide, of which 100 to 150 will be de­com­mis­sioned by 2030.

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