Areva's future pegged to new plants in China

French nuclear giant Areva SA is setting its sights on China's nuclear market, as the country, with the world's largest number of reactors under construction, embarks on a major expansion program.

The French firm was hit hard by the global downturn in demand for nuclear energy after the Fukushima nuclear plant crisis in Japan in 2011.

According to its latest annual financial statement, Areva lost around 5 billion euros ($5.3 billion) in 2014, compared with a 500 million euro loss the year earlier because of resultant delays in projects around the world, including most recently a landmark reactor planned in Finland.