– Edited By Tom Lamar –
IHI Corp. and Toshiba Corp. announced today that they have established a joint venture to manufacture steam turbine parts for nuclear power plants for the domestic and overseas markets.
The JV is expected to allow IHI, heavy machinery maker, to extend its operations to major components of turbines, alongside the manufacture of nuclear reactor pressure vessels and containment vessels, while Toshiba will enhance its turbine manufacturing capacity and strengthen its nuclear power plant business supply chain.
The JV will also combine state-of-the-art manufacturing facilities for large-scale components with an engineering structure integrating highly advanced design systems.
IHI will own 52 percent of the venture, Toshiba IHI Power Systems, which will be based in Yokohama, near Tokyo. Toshiba will own the remainder.