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Russian nuclear giant teams up with Toshiba: statement

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by Staff Writers
Moscow (AFP) March 20, 2008
Russian nuclear energy giant Atomenergoprom and Japanese industrial corporation Toshiba signed a preliminary cooperation agreement on Thursday, Russia's nuclear ministry said in a statement.

"Today's event symbolises the start of large-scale cooperation between two leading companies... in the field of the peaceful use of nuclear energy," Sergei Kiriyenko, head of Russia's nuclear agency, was quoted as saying.

"This cooperation will be beneficial not only to the employees of our companies, but also to users of products and services related to nuclear cycle throughout the world," Kiriyenko said.

The framework agreement will look at possible cooperation between the two companies, including in the construction of nuclear power plants, manufacturing equipment and the nuclear fuel business.

Toshiba made a first major foray into the nuclear power business in 2006 when it bought Westinghouse, a US-based company that produces nuclear reactors.

State-owned Atomenergorpom was created in 2007 to group together different Russian nuclear energy assets.

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