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Japan's Mitsubishi Heavy enters Chinese nuclear power market
Tokyo (AFP) Sept 28, 2007 Japan's Mitsubishi Heavy Industries is making a full-scale entry into China's growing market for nuclear power generation as it has won a major order there, the company said Friday. China's demand for nuclear power generation is increasing as the booming economy consumes more and more energy but needs to curtail air pollution. Mitsubishi Heavy Industries Ltd. has won an order from Sanmen Nuclear Power Co. Ltd. of China to supply two turbines, two generators and other equipment to a plant to be built in Zhejiang province along the East China Sea. The Japanese firm has teamed up with major Chinese heavy machinery maker Harbin Power Equipment Co. Ltd. for the contract. The plant's reactors were set to be supplied by US-based Westinghouse, which is in Japan's Toshiba group. Mitsubishi Heavy did not disclose the value of the contract but industry sources estimated it at 60 to 70 billion yen (520 to 600 million dollars). The company is also in talks on providing another set of turbines and other peripheral equipment to the Haiyang nuclear power plant, to be built in northern Shandong province. "It is true that we are holding negotiations but the deal is yet to be finalised," a spokesman for Mitsubishi Heavy said. The Nikkei economic daily said the combined value of the Sanmen and Haiyang deals would exceed 100 billion yen. Companies from other nations are also aiming for a slice of the Chinese nuclear market, with France's Areva currently trying to confirm a major order to build reactors. Mitsubishi Heavy shares on the Tokyo Stock Exchange rose 14 yen or 1.90 percent to 751 yen on Friday, despite a slip in the benchmark Nikkei-225 index. Community Email This Article Comment On This Article Related Links Civil Nuclear Energy Science, Technology and News Powering The World in the 21st Century at Energy-Daily.com
EU clears French loan guarantees for Finnish nuclear plant
Brussels (AFP) Sept 26, 2007EU competition regulators gave their approval Wednesday to French state-guaranteed loans to Finnish power company TVO to pay for the construction of a nuclear power plant by French company Areva. |
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