French power utilities Electricite de France SA (EDF.FR) and GDF Suez SA (GSZ.FR) will invest 600 million euros ($822 million) to extend the life of a nuclear reactor they jointly own in Belgium to 2025, Les Echos newspaper reports, citing unidentified sources.

The two companies and the Belgian government are due to sign an agreement for the ten-year extension of the life of the nuclear reactor located in the town of Tihange in eastern Belgium , the newspaper said.

The Belgian government and the two utilities have agreed on sharing the profits made on the reactor. Above a certain amount, the Belgian government will take 70% of the profits, while the utilities will take 30%, the newspaper said. The government expects to pocket EUR1.25 billion over the ten years.

Spokespeople at EDF and GDF Suez weren't immediately available for comment.
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