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    OL3 Project

    In January 2002, the Finnish Government made a positive Decision in Principle on TVO's application for the construction of a new nuclear power plant unit.The Parliament ratified this in May 2002, and after competitive tendering process TVO made an investment decision on Olkiluoto 3 (OL3) in December 2003.

    The new unit is being built at the western end of Olkiluoto island, next to the OL1 and OL2 units. The actual construction started with TVO's excavation work in 2004, and in 2005 the responsibility of the construction site was handed over to the Plant Supplier, i.e. Consortium formed by AREVA NP S.A.S., AREVA NP GmbH and Siemens.

    OL3 will be equipped with an EPR type reactor (European Pressurized water Reactor), and the net electrical output of the unit will be approximately 1,600 MW. The commercial operation is expected to start in 2012.

    OL3 is being implemented on a turnkey basis. The total cost of the project is about EUR 3 billion (in 2003 value), thus making it the largest single investment in Finnish industrial history so far. 

    Once finished, OL3 will provide permanent employment for 150-200 people, and about 1,000 additional people will be employed during the annual outages.