E.On keeps options open on Italy nuclear tech-report

July 18 (Reuters) – Germany’s E.On (EONGn.DE) has still not decided what technology it would use for possible nuclear power plants in Italy, the head of its Italian unit, Klaus Schaefer, said in an interview with an Italian newspaper.

“We still haven’t taken a decision” on technology, Schaefer, who is chief executive of E.On Italia, told Il Sole 24 Ore in the interview, published on Sunday.

“We can count on lots of specific experience, with a variety of solutions in all the countries where we are operating,” he said.

Rival group Enel (ENEI.MI) of Italy and France’s EDF (EDF.PA) have already picked French EPR reactors and Schaefer did not exclude his company also using that.

“Nothing excluded, no limits,” he said.

Italy plans to revive nuclear energy, which was rejected by a public vote in 1987 after the Chernobyl disaster in Ukraine. But clashing political interests have delayed setting up a safety agency — an important step in the plans.

Schaefer said there were still key elements missing from the plans, including rules for competition for sites and guarantees on stability for regulation.

The nuclear safety agency, yet to be set up, is expected to define precise criteria for selecting sites and oversee construction and operation. [ID:nLDE66D0QP]

He added that E.On could start work on nuclear projects in Italy before Enel and EdF but added it was not important.

“We are in a marathon, not a 100 metre sprint,” he said.

He said the government’s target of laying the first stone within the current legislature which could run to 2013 was “a tougher objective than it was a year ago,” adding that lost time could be regained.

Schaefer said if all went well, the first nuclear power plant could be working five to seven years after the start of construction.

(Editing by Jeremy Laurence)

Severstal exec says mulls sale of Europe ops-paper

* Has launched process to sell Italian, French operations

Stocks | Mergers & Acquisitions

* Sees Europe 2010 steel demand up 20 pct

MILAN, March 29 (Reuters) – Russia’s largest steel company Severstal (CHMF.MM) plans to sell its European activities, including in Italy, if it is offered an adequate price, a top executive told an Italian newspaper on Sunday.

In an interview in business daily Il Sole 24 Ore, Severstal’s second-raking executive Sergei Kuznetsov said the recent buy-out of minority shareholders in Italian unit Lucchini gives it a freer hand in the sale process. [ID:nLDE6231FT]

“I can confirm that there is a process underway and it does not just involve Italy but also France. It involves the sale of all the European activities,” said Kuznetsov, who is responsible for American and European activities.

“But it depends on the offers. If they are strong we will sell, otherwise no,” he said.

Severstal has received strong interest from various financial and industrial investors, he said without giving names. Kuznetsov said the company wants to sell 100 percent.

The newspaper said Deutsche Bank has been hired to sell Lucchini.

Kuznetsov said Severstal intends to focus on Asia and North America, where it can make bigger returns and where there are more growth opportunities than in Europe, he said.

Earlier this month, Severstal bought 20.2 percent of Lucchini from family shareholders who had kept a stake after the sale of a majority in 2005.

“The Lucchini activity is going very well. We are at 85 percent capacity (use), which is the maximum in Italy,” he said.

Lucchini’s main plant is in Piombino, which has an annual production of 2.5 million tonnes of steel.

Prospects for the steel industry in 2010 have improved sharply from the “difficult” 2009, he said.

“Prices are going up and this year demand will start growing again. It is estimated steel consumption in Europe will increase by 20 percent,” he said.

In early March in a results conference call, Severstal owner Alexei Mordashov did not say whether the group planned to sell or close any operations. [ID:nLDE6271IQ].

(Writing by Nigel Tutt; Editing by Paul Tait)