The French government Tuesday announced the creation of a 133 million euros ($178.8 million) fund to help the nuclear industry's small and medium-sized companies develop, as France seeks to boost one of its export champions.

France has long relied on atomic power to provide most of its electricity and its state-controlled power group Electricité de France SA (EDF.FR) is the world's largest nuclear operator, with 58 reactors.

The country has been trying to export its nuclear expertise, through state-controlled nuclear engineering group Areva SA (AREVA.FR), which is building a reactor in Finland , and EDF, which is currently building two latest-generation reactors in China .

France 's nuclear industry also comprises around 2,500 small and mid-sized companies, employing as many as 220,000 workers, and the growth prospects are such that the French nuclear industry is expected to create as many as 110,000 jobs by 2020, the energy and industry ministries said in a joint statement Tuesday.

The fund, announced Tuesday, should help provide necessary investments, the ministries said, noting that EUR50 million will be provided by the newly created Banque Publique d'Investissement and the rest will come from the sovereign fund Fonds Strategique d'Investissement.

In spite of the nuclear catastrophe in Japan 's Fukushima in March 2011, growth prospects for nuclear energy remain promising, notably in Asia , with India in talks to buy two reactors from Areva. EDF hopes to secure a contract for at least two other reactors in China while trying to develop a partnership with China Guangdong Nuclear Power Group to design and sell medium-sized reactors.

The dismantling of nuclear installations could also provide growth opportunities because many reactors and research centers are now becoming obsolete.
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