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Kazakhstan To Buy Westinghouse Stake From Toshiba
Tokyo (AFP) Jul 07, 2007 Kazakhstan is to pay 486.3 million dollars to buy a stake in US nuclear reactor firm Westinghouse from its majority owner Toshiba, news reports said Saturday. The Japanese giant will sign an agreement this month to sell a 10-percent stake in Westinghouse to state-run uranium firm Kazatomprom for slightly more than 60 billion yen, the Nikkei newspaper said. By forging ties with uranium-rich Kazakhstan Toshiba, which holds a 77-percent stake in Westinghouse, aims to secure stable supplies of the resource used by power plants, Jiji Press said. Toshiba expects to win more orders to build power facilities from power companies in the United States and elsewhere by having Kazatomprom in its alliance and securing a long-term supply of uranium, the Nikkei added. The tie-up will also help Kazatomprom expand its sales channels worldwide and accelerate mining projects, the Nikkei said. Toshiba and Westinghouse are also expected to transfer uranium-processing technology to Kazatomprom, it said. International energy firms are competing to secure nuclear fuel amid growing energy demand, particularly in emerging economies such as China and India. Japan now procures uranium mainly from Australia and Canada. Toshiba president Atsutoshi Nishida visited Kazakhstan in April with Japanese minister of economy, trade and industry Akira Amari, the Asahi Shimbun newspaper said. Japan and Kazakhstan have agreed to cooperate in uranium-processing technology and trade. US government approval is required for transactions in which a foreign entity takes a stake in an American business possessing nuclear technology, the Nikkei said. US officials have indicated that the deal poses no problems, the newspaper added.
Source: Agence France-Presse Related Links Westinghouse Powering The World in the 21st Century at Energy-Daily.com
As China Overtakes US As Global Polluter Opportunities Abound For Newer, Cleaner Plants
New York NY (SPX) Jul 10, 2007China will become the world's largest greenhouse gas emitter in one year, exceeding the emissions of the U.S. However, China also presents the most investment opportunities for manufacturing products based on new clean technologies, putting the country on both sides of the environmental challenge. These points and many others were discussed by a blue-chip panel of cleantech leaders during the Lux Research Cleantech Discussion Panel on June 15, 2007. |
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