A Westinghouse subsidiary and a Chinese heavy equipment manufacturer have announced a joint venture to provide cranes and other products to China’s growing nuclear power industry.
PaR-TZ Nuclear Company will be a joint venture of PaR Nuclear and Taiyuan Heavy Machinery Group, with the former holding a majority stake. Based in Taiyuan, China, the new firm will provide crane components and fuel handling equipment, in addition to assembly services and spare parts.
"There is a large, nuclear-specific market for crane components, fuel-handling equipment, spare parts, and outage and installation services in China," PaR Nuclear President Bill Burns said in a release announcing the venture Tuesday. "We are pleased to be joining with TYHM to broaden our collective reach and further enhance our ability to provide equipment and services to the Chinese nuclear market."
China is by far the world leader in new nuclear build, with more than two dozen plants under construction, 15 plants in operation and more planned for the coming decades.