Thursday, May 22, 2008

Japan's nuclear-power-plant builders will receive aid from

Japan’s nuclear-power-plant-builders that are working on U.S projects are going to receive financial aid from Japan Bank for International Cooperation under the request of Japan’s Agency for Natural Resources and Energy unit of the trade ministry. Bloomberg reports:

In a move to reduce investment risks of companies that participate in U.S. nuclear-plant projects, the agency might ask the Japan Bank for International Cooperation to make loans to companies such as Toshiba Corp., Mitsubishi Heavy Industries Ltd. and Hitachi Ltd., the news service reported.

U.S. and Japanese energy officials are scheduled to meet May 23 in Tokyo to discuss Japan's policy on aid to the U.S., which plans to build 30 nuclear reactors over the next 20 years, Nikkei said.

Japanese companies are now moving into US nuclear market. Japanese company Toshiba Corporation (TYO:6502) bought Westinghouse Electric Co., a Pennsylvania-based nuclear-power-system. Hitachi Ltd. (TYO:6501) with General Electric Co. is exploring the U.S. market.

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