INTERVIEW: M'bishi Heavy Awaiting Turkey's Nuke Project Decision

Economy

Tokyo, Dec. 13 (Jiji Press)--Mitsubishi Heavy Industries Ltd. <7011> President Shunichi Miyanaga has hinted that a Japanese project to build a nuclear plant in Turkey may be abandoned unless the Turkish side accepts an economically feasible plan.

"We're proposing we can start action anytime within what makes economic sense," Miyanaga said in an interview Wednesday, adding that his company is waiting for a decision by Turkey on the matter.

The public-private project envisions the construction of four reactors on the Black Sea coast, with the first unit expected to enter into service in 2023. Mitsubishi Heavy submitted a feasibility report to the Turkish side at the end of July.

But the future of the project is in doubt. The estimated construction costs have more than doubled from the initial projection of 2 trillion yen, because stricter safety measures became necessary after the March 2011 meltdowns at Tokyo Electric Power Company Holdings Inc.'s <9501> Fukushima No. 1 power plant.

The issue is not something Mitsubishi Heavy can decide, Miyanaga said, indicating that the company will wait and see the outcome of talks between the Japanese and Turkish governments.

[Copyright The Jiji Press, Ltd.]

Jiji Press