Westinghouse wins nuclear reactor bid
18 December 2006
China National Nuclear will buy four nuclear reactors from Westinghouse Electric, an American subsidiary of Japanese multinational Toshiba, the International Herald Tribune reported. Outside analysts suggested the total price may be US$5-$8 billion. Stephen Tritch, chief executive and president of Westinghouse, declined to disclose the extent of any technology transfers involved but said the deal would make it possible for China to build future nuclear reactors with less help from overseas. Westinghouse prevailed in the bidding over France's Areva and Russia's AtomStroyExport. The International Energy Agency predicted last month that China's nuclear power generation capacity would rise by 9,000 megawatts by 2015 to 15,000 megawatts. The four reactors announced Saturday, which are to be completed by 2013, will each have a capacity of 1,100 megawatts.