Toshiba Eyes Big US Nuclear Power Plant Deal

Advanced boiling water nuclear reactor technology.

by Staff Writers
Tokyo (AFP) Jun 29, 2007
Japan's Toshiba Corp. said Wednesday it hoped to win a large deal to supply nuclear reactors in the United States, boosting its share price. Toshiba is working to secure an order for advanced boiling water reactors from US group NRG Energy which aims to build nuclear power plants, said company spokeswoman Hiroko Mochida.

"We have not reached a final contract. But we will continue to work towards getting the order," she said.

The Nikkei economic daily and Jiji Press news agency said Wednesday Toshiba was in final talks with NRG to supply two 1.35-million-kilowatt ABWRs for a nuclear power plant in Texas, beating a Hitachi-General Electric alliance.

The entire nuclear plant project is worth an estimated 5.2 billion dollars, Jiji Press said.

Toshiba shares rose on the news, gaining 12 yen or 1.17 percent to 1,036 on the Tokyo Stock Exchange by the close of morning trade.

The Japanese high-tech giant bought Westinghouse from British Nuclear Fuels (BNFL) last year for 5.4 billion dollars in one of the largest Japanese acquisitions overseas in years.

Source: Agence France-Presse

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