Skip to comments.Westinghouse lines up financing for China nuclear reactor bid
Posted on 02/19/2005 3:34:45 PM PST by Willie Green
Westinghouse Electric Corp. yesterday received preliminary approval for a nearly $5 billion loan from the Export-Import Bank of the United States to support its bid to build up to four nuclear reactors in China.
The loan is an important step in the sale process for Westinghouse, which intends to submit formal bids to China on Feb. 28, company spokesman Vaughn Gilbert said.
Aggressive competition is expected from other countries, but Pittsburgh-based Westinghouse, owned by the British nuclear firm BNFL, believes it may be one of the front-runners in the competition.
A French firm, Areva, and its joint-venture partner, German-based Siemens, are thought to be a contender as well. Russian and Canadian companies also have expressed interest in the project.
Westinghouse will offer to sell China its most advanced pressurized water reactor, the AP1000, which received approval last fall from the U.S. Nuclear Regulatory commission. The Bechtel Power Corp. of San Francisco also would be a supplier.
(Excerpt) Read more at post-gazette.com ...
Good luck to Westinghouse!
Yeah. It'll be nice to see if the AP1000 works as well as advertised. After they build a couple over there, maybe we can build a few over here.
Oh yea, it broke. (Three Mile Island, Harrisburg/Middletown, PA.)
I have no problem with that, although some might see it as a threat. The Chinese are the oldest contiguous civilization (that we know of) on earth...and I'm sure they intend to keep it that way; they didn't get there by being stupid and reckless. Who knows, maybe it will even lower our oil prices a bit.
..broke due to a series of operator errors.
I agree with your assessment, having done business in China with exactly such types of projects. It's a market for the deep-pocketed and very patient (or stupid in some cases).
I am so sorry to hear that. Did not know.
I have been to almost every Westinghouse building in the US in the 60's - 70's. (We were a vendor to them) Was a great, great, great company.
Too bad there is no chance of building four nuclear reactors here.
Westinghouse built the original nuclear sub nuke reactor, and it never failed once. Thus they have a long and friendly relationship with the US govt.
Westinghouse may (are your sure?) be British, but Bechtel sure isn't.
And the NSS systems are sure to be manufactured here as well. This looks like a good deal for US business.
And so it is.... An era has passed. Thanks for setting me straight.
Also, are these new GE designs BWR or PWR reactors?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.