PITTSBURGH, Jan. 18, 2011 /PRNewswire/ -- Westinghouse Electric Company announced today that it has reached agreement with China Baotou Nuclear Fuel (CBNF) to design, manufacture and install fuel fabrication equipment that will enable China to manufacture fuel for the fleet of Westinghouse AP1000® nuclear power plants now being built there.
Total value of the contract is $35 million. Additional terms are not being disclosed at this time.
The equipment will be sourced from Westinghouse and its suppliers in Pennsylvania, Ohio, Colorado, Michigan, South Carolina and North Carolina. It will be installed in a CBNF facility in Baotou, China.
Joe Belechak, Westinghouse Sr. Vice President, Nuclear Fuel, said the agreement is the most recent example of the mutually beneficial nature of Westinghouse's approach to business in China and elsewhere in the world.
"Westinghouse is committed to conducting business in a 'win-win' manner," he said. "The agreement announced today will help China achieve its goals of energy independence and carbon avoidance. For Westinghouse and our U.S. suppliers, the agreement provides an opportunity to design, manufacture and install leading-edge nuclear fuel manufacturing technology in a new and fast-growing nuclear energy market"
Mr. Belechak pointed out that under terms of the agreement, CBNF will be able to manufacture fuel for AP1000s being constructed in China.
The Westinghouse AP1000 has also been identified as the new plant technology of choice for no less than 14 planned new plants in the United States, including the only six for which contracts have been signed. Fuel for those plants will be manufactured at Westinghouse's state-of-the art fuel fabrication facility in Columbia, S.C.
Westinghouse Electric Company, a group company of Toshiba Corporation (TKY:6502), is the world's pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world's first pressurized water reactor in 1957 in Shippingport, Pa. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants, including 60 percent of those in the United States.
Westinghouse Electric Company
CONTACT: Vaughn Gilbert, +1-412-374-3896, cell: +1-412-491-9820,
gilberhv@westinghouse.com
Web Site: http://www.westinghousenuclear.com/
