Olkiluoto 3 EPR Construction Project

The Olkiluoto 3 EPR Construction Project was undertaken by Finnish utility TVO with French-led contractor Areva-Siemens to build the first-of-a-kind European Pressurized Reactor design, under a fixed-price turnkey contract signed in 2003. Construction began in 2005 with an original completion target of 2009, but the project became notorious for repeated delays and cost overruns, ultimately taking more than seventeen years and roughly tripling its original budget amid extensive litigation between TVO and its contractors. The reactor finally reached regular commercial operation in 2023, becoming the first EPR unit completed anywhere and a much-studied cautionary case in nuclear construction management.