nuclear-news

The investment would involve spending 40-50 billion yen ($350-438 million), which is an extraordinary amount considering the uncertain future of the nuclear power business. Mitsubishi Heavy has made little headway with exports, highlighted by Vietnam’s recent decision to abandon plans for a pair of nuclear plants. The Japanese company finds itself in a tight spot, pulling with no progress on a rope it cannot release.

Facing dim prospects for new domestic orders, both Mitsubishi Heavy and Japan Nuclear Fuel must find other ways to secure enough business to keep their equipment and workforces active.

Back in 2006, Mitsubishi Heavy partnered with Areva to develop a so-called Generation III+ pressurized-water reactor with state-of-the-art technologies. The team has been using the design to compete with the larger, older-generation pressurized-water systems promoted by two other groups: the team of Hitachi and General Electric, and the team of Toshiba and Westinghouse…….

The French government, which owns nearly 90% of Areva, is looking to cut its losses. Unprofitable businesses are being excised from Areva and a new company is being set up that will seek over 30% of its capital from Japan, China, and elsewhere. …

There are lingering worries inside Mitsubishi Heavy about this huge investment in Areva. To alleviate those concerns, Mitsubishi Heavy has voiced confidence that there will be another nuclear renaissance in 20 to 30 years……http://asia.nikkei.com/Business/Deals/Mitsubishi-Heavy-faces-tough-decisions-in-nuclear-power-business