- Final contracts to be signed by mid year
- First plant to be operational in 2013
BEIJING, March 1 /PRNewswire-FirstCall/ -- Westinghouse Electric
Company and its consortium partner, The Shaw Group, Inc., (NYSE: SGR)
announced they have successfully negotiated a framework agreement on
February 28, 2007 with China's State Nuclear Power Technology Company
(SNPTC) to provide four AP1000 nuclear power plants in China . For the
media and press, a formal signing of the framework agreement was held on
March 1 with senior Chinese government officials in attendance.
The framework agreement confirms the basic requirements and obligations
of all parties involved and includes significant funding for long lead
materials and early engineering. The agreement follows the selection of the
Westinghouse Consortium as the technology partner for the next generation
of nuclear power plants that was announced 10 weeks ago. The selection of
the Westinghouse consortium by SNPTC was the result of an extensive and
rigorous two-year competitive bidding process.
Final contracts for the four plants, to be constructed at the Sanmen
and Haiyang sites, will be finalized by mid year. Construction is expected
to begin in 2009, with the first plant becoming operational in 2013.
Jim Fici, Sr. Vice President of Customer Relations and Sales, signed
the framework agreement for Westinghouse: "This is a very significant
milestone in the process that will result in the introduction of the
Westinghouse AP1000 to China," he said. "More importantly, reaching the
framework agreement in such a timely manner demonstrates the positive and
growing relationships between SNPTC and the Westinghouse consortium. It
also proves the commitment of all parties to bring these first four plants
on line in a timely and efficient manner."
Westinghouse, a group company of Toshiba Corporation, is the world's
pioneering nuclear power company and is a leading supplier of nuclear plant
products and technologies to utilities throughout the world.
Westinghouse, with Shaw, supplied the world's first PWR in 1957 in
Shippingport, Pa. Today, Westinghouse technology is the basis for
approximately one-half of the world's operating nuclear plants, including
60 percent of those in the United States.
For more information about the Westinghouse AP1000, visit its Web site
at http://www.ap1000.westinghousenuclear.com.
SOURCE Westinghouse Electric Company
 back to top
Related links:
http://www.westinghousenuclear.com
http://www.ap1000.westinghousenuclear.com
http://www.prnewswire.com/comp/127481.html/
CONTACT:
Vaughn Gilbert of Westinghouse Electric
Company, +1-412-374-3896, or gilberhv@westinghouse.com
|
