Areva NP, the French multi-national nuclear power company, and Northrop Grumman Shipbuilding announced a $363.5 million joint venture to build heavy components that will go into nuclear power plants to be built in North America. The new company, Areva Newport News, will construct a 368,000 square foot plant and office building at Northrop Grumman’s North Yard. Northrop Grumman will also create a new subsidiary, Newport News Energy, to sell engineering services to the nuclear power industry. Together, the two companies will create at least 540 new jobs by 2013.
Areva chose to partner with Northrop Grumman in Newport News in large part because of the availability of a highly skilled workforce that is experienced in manufacturing and assembling precision heavy components to the exacting standards of the nuclear industry. Northrop Grumman also brings formidable talent in managing the type of large, complex projects that Areva Newport News will undertake. The new plant, to be modeled on Areva’s existing nuclear components plant in the Burgundy region of France, will take three to four years to build and will produce components weighing up to 500 tons. For more information about the project, click on links to the Governor’s announcement and to press releases from Areva and Northrop Grumman.