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Toshiba Close to $1.6B Deal In China

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Archived news summary. This item reflects its original publication date. Follow the source link below for the publisher’s full article.

A media report from Japan said electronics giant Toshiba is putting the final details together for a $1.6 billion order for U.S. subsidiary Westinghouse Electric Company control systems, turbines and other equipment that would supply six to eight nuclear reactors in China.

The Nikkei Asian Review reported on the deal, specifying the Haiyang nuclear plant in Shandong Province and the Sanmen NPP in Zhejiang Province were involved.

Westinghouse's previous projects in China have given the company a solid foothold in the country that is currently the hottest market for new nuclear power facilities. By 2040, nuclear generating capacity is expected to grow by 60 percent compared to the total capacity of 2013 and one-quarter of that growth will be in China, the report said, citing the International Energy Agency.

The Nikkei report did not name sources or estimate when a deal would be announced.


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