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Toshiba pulls out: it’s the end for Texas nuclear project

nuclear-dominoesFlag-USAToshiba pulling plug on US nuclear reactor plan. Write-downs, delays spell end to Texas project. Nikkei Asina Review,  February 20, 2017 TOKYO –– Toshiba appears set to withdraw from a plan to build two nuclear reactors at a U.S. power plant amid sizable write-downs on American nuclear operations and lengthy construction delays.

The Japanese manufacturer had been contracted to build the third and fourth reactors for U.S. utility NRG Energy’s South Texas Project, taking Toshiba’s advanced boiling water reactors abroad for the first time. Toshiba looks to pull out of the project, and will decide later what to do with its stake in the joint venture that serves as the developer.

  The reactors were to debut as early as 2016. But delays on the project have brought heavy costs for Toshiba, including write-downs totaling 72 billion yen ($638 million at current rates) logged in fiscal 2013 and fiscal 2014. Ground has not been broken on the units, while work such as civil engineering lies outside Toshiba’s purview. Further losses are unlikely, according to a source involved with the project……http://asia.nikkei.com/Business/Companies/Toshiba-pulling-plug-on-US-nuclear-reactor-plan

February 20, 2017 - Posted by | business and costs, USA

1 Comment »

  1. Reblogged this on yetanotherwyrdo.

    wyrdsisterzz's avatar Comment by wyrdsisterzz | February 20, 2017 | Reply


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