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Nuclear energy firm Areva upgrading Va operations

Tuesday - 12/17/2013, 5:09pm  ET

LYNCHBURG, Va. -- Nuclear energy company Areva Inc. plans to invest $26.3 million in its operations in Lynchburg and Campbell County.

Gov. Bob McDonnell announced the plans Tuesday.

Officials say Areva will invest in highly advanced machinery and equipment to enhance research and development capabilities and elevate its competitiveness in advanced manufacturing.

The company that employs nearly 2,000 people in Virginia also is designating the facilities as its Operational Center of Excellence for Nuclear Products and Services in North America.

McDonnell approved a $350,000 performance-based grant from the Virginia Investment Partnership program for the project.

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