From Bloomberg:
Toshiba Corp.’s Westinghouse Electric Co. won a contract from China to build four nuclear reactors, trumping Areva SA for a project worth as much $5.3 billion. The contract may produce 5,500 jobs in the U.S.
Westinghouse will build two reactors at Sanmen in Zhejiang province and two at Yangjiang in Guangdong, the U.S. Department of Energy said in a statement today. U.S. Energy Secretary Samuel Bodman and Ma Kai, head of China’s National Development and Reform Commission, signed the agreement in Beijing today.
China, which wants to get 4 percent of its power from nuclear energy by 2020 from about 2.3 percent now, needs to add two reactors a year to meet the target. Westinghouse, based in Monroeville, Pennsylvania, bid against Framatome ANP, a venture between Paris-based Areva, and Germany’s Siemens AG, and Russia’s AtomStroyExport to build the plants for China National Nuclear Corp. [Full Text]
