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Japan’s nuclear marketing disappointment: Vietnam to cancel reactor order

Buy-Japan's-nukes-2Japan’s nuclear export ambitions hit wall as Vietnam set to rip up reactor order Reiters,  By Aaron Sheldrick and Ho Binh Minh | TOKYO/HANOI, 17 Nov 16 

Vietnam is poised to abandon plans for Japanese firms to build a multi-billion dollar nuclear power plant, damaging Prime Minister Shinzo Abe’s drive to begin exporting reactors after the Fukushima disaster left the industry in deep-freeze at home.

The Japanese government said in a statement this week that it had been informed by Vietnamese Deputy Prime Minister Trinh Dinh Dung that Hanoi was close to a decision to cancel the project. Japan’s Minister of Economy, Trade and Industry, Hiroshige Seko, described the move as “very regrettable.”

Vietnam’s decision, attributed to lower demand forecasts and rising costs as well as safety concerns, also deals a broader blow to the global nuclear business. Countries from Germany to Indonesia have decided to either pull out of nuclear energy or cancel development plans in the wake of the Fukushima nuclear disaster in 2011, the world’s worst since Chernobyl in 1986.

“Vietnam is only the latest in a long list of countries, including more recently Chile and Indonesia, that have postponed indefinitely or abandoned entirely their plans for nuclear new-build,” said Mycle Schneider, a Paris-based energy analyst.

Though it has sought contracts for years, Japan has never led a nuclear project to completion overseas and Abe has lent his office’s prestige to attempts to win contracts, most recently in Turkey. The dented ambitions for exports come at a time when Japan is struggling to restart dozens of reactors shut down in the wake of Fukushima.

“This is a major blow to Japanese ambitions to, finally, export their first nuclear reactors,” said Schneider…….

DEMAND GROWTH EASING

Vietnam’s parliament is set next Tuesday to formally approve scrapping the Japanese deal, as well as the country’s first nuclear project, which was awarded to Russia’s Rosatom, according to state media. Rosatom said it would not comment until the Vietnam parliament formalized the decision.

The Japanese and Russian nuclear plants were supposed to have been located in central Ninh Thuan province…….. http://www.reuters.com/article/us-japan-vietnam-nuclearpower-idUSKBN13D0RK

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November 19, 2016 - Posted by | Japan, marketing, Vietnam

1 Comment »

  1. […] the purchase of the two Russian reactors, Vietnam was due to buy a further two from Japan. These plants would have been the socialist republic’s first power reactors. The orders were […]

    Pingback by Vietnam cancels nuclear reactor deal: a lesson for South Africa | D!SRUPT | November 24, 2016 | Reply


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