VanEck Vectors Uranium Plus Nuclear Energy ETF (NLR)

[3xBuBu]

Washington tells India Westinghouse could be sold by year end

http://ca.reuters.com/article/businessNews/idCAKBN19N0Y1-OCABS

The U.S. administration has told India that Westinghouse Electric Co will emerge from bankruptcy and be sold by the year end, industry and diplomatic sources have said, raising the prospect of a Washington-supported sale or bailout for the nuclear firm.

India, like other nuclear nations, has been closely watching the fate of Japanese-owned Westinghouse, which filed for Chapter 11 in March after an estimated $13 billion of cost overruns at two U.S. projects, casting a shadow over the nuclear industry.

There has been debate over potential U.S. support for the reactor maker since owner Toshiba (6502.T: Quote), the laptop-to-chips conglomerate, announced the blow-out at Westinghouse last year.

Some form of U.S. backing or involvement, industry experts say, could avoid a Chinese or Russian buyer unpalatable to Washington, which would prefer to keep Westinghouse's advanced nuclear technology out of the hands of its foreign rivals.