Utility Engie could abandon Turkish nuclear power project: report

Reuters News
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Posted: Dec 23, 2016 2:39 AM

PARIS (Reuters) - French utility Engie is preparing to pull out of a Turkish nuclear power project as it no longer fits with the group's strategy, Le Figaro newspaper reported on Friday.

Officials at Engie could not be immediately reached for comment on the report.

Engie is undergoing a restructuring that includes 15 billion euros ($15.72 billion) worth of asset sales - of which 41 percent have already been signed - and 22 billion euros of investments, as well as cost savings aimed to have a net cumulative impact of 1 billion euros on core earnings by 2018.

(Reporting by Pascale Denis and Sudip Kar-Gupta; Editing by Bate Felix)