Washington Tells India that Westinghouse could be out of Bankruptcy and Sold by Year End

Uranium (Nuclear Minerals) / Nuclear Power - Economics, Design, & Industry

Date posted: 07/05/17

Douglas Busvine reports that 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 since owner Toshiba, 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 the Westinghouse advanced nuclear technology (and all patents) out of the hands of its foreign rivals. Civil nuclear cooperation has been a cornerstone of U.S.-India relations, and the proposed construction of six Westinghouse AP1000 reactors in the India Andhra Pradesh area, announced in 2016, crowned more than a decade of diplomatic efforts.