Russia is seeking a tie-up with Japanese firms Toshiba and Ishikawajima-Harima Heavy Industries (IHI) for nuclear power, a report said Monday. Atomprom, the Russian state-run nuclear power company, asked the two firms in late November to begin negotiations on the planned tie-up, the Yomiuri Shimbun said, citing sources close to the deal.
Toshiba and IHI agreed and may shortly enter initial talks, the mass-circulation daily said.
"We'll target Russia as a possible market," a senior Toshiba official said, while an IHI official described the proposal as "quite interesting," according to the Yomiuri.
Full-fledged talks could start in the second half of the year. If a tie-up is agreed, the Japanese firms will manufacture and supply steam turbines and generators, the newspaper said.
The two sides are also likely to discuss a capital investment in Atomprom, a company modeled on gas giant Gazprom, and the provision of nuclear power technologies, it said.
US-based Westinghouse Electric, bought by Toshiba last year, is likey to take part in the project with the two Japanese firms, the daily added.
Atomprom is to be established as a joint-stock corporation and be wholly funded by the Russian government. Like Gazprom for oil and natural gas, the monopoly is designed to reinforce control over the nuclear power generation industry.
Moscow plans to raise the amount of electricity generated by nuclear power from 16 percent in 2006 to 25 percent in 2030.
Source: Agence France-Presse
