Westinghouse Wins! (China has signed a $5.3 Billion contract for four AP-1000's)

ByRod Adams

Just before heading out for a Christmas party, I noticed a link to the following article from Bloomberg.com in my Google News alerts – Westinghouse Wins $5.3 Billion China Nuclear Contract (Update5).

This is the same contract that was originally supposed to be awarded by the end of 2005. The contract selection follows about 18-24 months worth of intensive negotiation between China National Nuclear and the three major bidders for the contract – Westinghouse, Areva, and AtomStroyExport.

Construction is scheduled to begin in early 2007 and the first unit should be operational by 2013.

Steve Tritch, Westinghouse’s president, had this to say about the deal:

“The Chinese were very demanding,” he (Steve Tritch) said at the State Guest House, where the accord was signed. “Chairman Ma and the NDRC were very demanding,” he said without elaborating.

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Rod Adams

Rod Adams is Managing Partner of Nucleation Capital, a venture fund that invests in advanced nuclear, which provides affordable access to this clean energy sector to pronuclear and impact investors. Rod, a former submarine Engineer Officer and founder of Adams Atomic Engines, Inc., which was one of the earliest advanced nuclear ventures, is an atomic energy expert with small nuclear plant operating and design experience. He has engaged in technical, strategic, political, historic and financial analysis of the nuclear industry, its technology, regulation, and policies for several decades through Atomic Insights, both as its primary blogger and as host of The Atomic Show Podcast. Please click here to subscribe to the Atomic Show RSS feed. To join Rod's pronuclear network and receive his occasional newsletter, click here.

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