Hitachi and GE agree nuclear deal

Hitachi, the Japanese manufacturer and General Electric have agreed a joint alliance to build and maintain nuclear power plants in Japan and the US.

    Hitachi estimates that 100 nuclear plants will be built in 20 years

    Hitachi estimates that 100 more nuclear power plants will be built in the next 20 years, and is seeking to use the joint venture to capitalise on the demand.

     

    Hitachi said in a statement on Monday: "We aim to grow in the global nuclear power market, such as in advanced boiling-water reactors, by generating synergies with our expertise and experience."

     

    Growing market

     

    The Japanese venture will be 80 per cent-owned by Hitachi and 20 per cent by GE, while GE will own 60 per cent of the US venture with Hitachi taking the rest.

     

    The two companies will discuss details of the alliance and will sign a final contract in the first half of 2007.

     

    Meanwhile, Hitachi has completed a $4.2 billion deal for Westinghouse, a nuclear power plant in the US.

      

    Recently France's Areva, the world's largest maker of nuclear reactors, and Japan's Mitsubishi Heavy Industries said they would co-operate in the sector.

    SOURCE: Aljazeera + Agencies


    YOU MIGHT ALSO LIKE

    How different voting systems work around the world

    How different voting systems work around the world

    Nearly two billion voters in 52 countries around the world will head to the polls this year to elect their leaders.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    The great plunder: Nepal's stolen treasures

    The great plunder: Nepal's stolen treasures

    How the art world's hunger for ancient artefacts is destroying a centuries-old culture. A journey across the Himalayas.