Tuesday June 27, 2006

Hitachi, GE plan to build nuclear plant in US

sg.biz.yahoo.com :

Hitachi and General Electric plan to jointly build the first nuclear power plants in the United States since the Three Mile Island accident in 1979, a Hitachi spokesman said. The Japanese and US electronics giants will construct two nuclear power reactors in the suburbs of Houston at a cost of 5.2 billion dollars if they get US approval.

President George W. Bush's administration wants to relaunch construction of nuclear reactors in the United States as the cost of crude oil is soaring near record highs due to both geopolitical and supply concerns.

Resource-strapped Japan depends on nuclear power generation for about 30% of its total electricity needs. Hitachi's rival Toshiba, a key manufacturer of nuclear power facilities in Japan, announced an agreement in February to buy the US nuclear power plant maker Westinghouse from British Nuclear Fuels (BNFL) for 5.4 billion dollars. Toshiba's acquisition, the biggest by a Japanese firm in years overseas, came amid expectations that the US nuclear market will grow strongly.

See also :

1. Toshiba agrees to buy Westinghouse for $5.4 bln
2. Toshiba plans to triple nuclear power sales
3. The atom may be the future - again

(2006-06-27 12:53:31 SGT) [Energy] Permalink

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