French nuclear waste project to cost up to $42 billion, says agency
PARIS, May 12 (Reuters) - France's new nuclear waste storage project is expected to cost between 26 billion euros ($28.93 billion) and 37.5 billion euros, the national nuclear waste agency said on Monday, up from an earlier estimate of around 25 billion euros.
The project, called Cigeo, is located in eastern France's Grand East region between two wine-producing cities Reims and Nancy, and is expected to become the country's first long-term storage site for its nuclear waste.
Due to start development in 2027, plans for the storage 500 metres below ground have faced protests from nearby residents.
A decree from the ministry of industry is expected by the end of the year finalising the costs, which will serve as a reference until the next assessment, said the waste agency, known as Andra.
Both the cost and the site face further reviews, due at the latest by the end of 2026.
Construction could begin by 2027 if the French nuclear safety authority approves the application, and the first waste packages would be received in 2050, with an expected operating life of one century.
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