SOURCE: Industrial Info Resources

October 30, 2009 04:01 ET

GDF Suez Agrees to Pay for Belgian Nuclear Power Plant Lifeline, an Industrial Info News Alert

GALWAY, IRELAND--(Marketwire - October 30, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- GDF Suez SA (EPA:GSZ) (Paris, France) has caved in to the Belgian government's demands for a 1.6 billion euro investment package in order to extend the life of older nuclear facilities in the country. Belgium recently decided to extend the life of older nuclear reactors, reversing an earlier decision to phase out nuclear power in the country. However, the government also introduced a huge levy for the privilege on Electrabel SA (Brussels, Belgium), a subsidiary of GDF Suez, which runs all of Belgium's seven reactors in the country's two nuclear power plants.

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