China, US Sign Pact To Build 4 Nuclear Reactors In China
01:18 EST Saturday, December 16, 2006
BEIJING (AP)--China and the U.S. signed a deal Saturday that is meant to pave the way for Westinghouse Electric Co. to build four civilian nuclear reactors in China.
China is building scores of new nuclear power plants, seeking the latest technology from industry leaders while working to shore up its own expertise.
"This is an exciting day for the U.S. nuclear industry," Energy Secretary Samuel Bodman was quoted as saying in a statement. "It is an example that if we work together we can advance not only our trade relations but also our common goal of energy security."
The deal was signed on the sidelines of a meeting of five major oil importing nations hosted by China.
Westinghouse, the U.S. unit of British Nuclear Fuels PLC, had been vying with the French nuclear group AREVA (427583.FR) and Russia's AtomStroyExport to win the lucrative contract for building facilities at Sanmen, in the eastern province of Zhejiang, and at Yangjiang in southern China's Guangdong province.
(END) Dow Jones Newswires
12-16-06 0118ET
Copyright (c) 2006 Dow Jones & Company, Inc.
