Finnish nuclear consortium Fennovoima is to build a new reactor on the northern coast of Bothnian Bay.

The Hanhikivi plant will be built in Pyhäjoki with work to begin by the end of next year at the earliest. Areva and Toshiba are the front runners to supply the plant, with a successful bidder due to be chosen in 2012-13.

Planning for the new reactor has taken fours years, with 40 sites considered for its location.

Fennovoima is 66 per cent owned by conglomorate Voimaosakeyhtiö with the rest controlled by the Finnish arm of E.ON.

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