TEPCO, 3 Others to Consider Joint Nuclear Plant Biz

Economy

Tokyo, Aug. 28 (Jiji Press)--Tokyo Electric Power Company Holdings Inc. <9501> and three other Japanese firms said Wednesday that they have agreed to consider joint business on the construction, operations and decommissioning of nuclear power plants.

TEPCO and the three potential partners--Chubu Electric Power Co. <9502> and machinery giants Hitachi Ltd. <6501> and Toshiba Corp. <6502>--launched in August last year full-fledged discussions for a tie-up in the nuclear power plant business.

The newly announced move may lead to a realignment of the nuclear power industry in Japan, sources familiar with the situation said.

All of the four companies handle boiling-water reactors, the same type as reactors at TEPCO's Fukushima No. 1 nuclear plant, which was knocked out by the March 2011 earthquake and tsunami. The joint initiative will assume the utilization of BWRs.

The joint undertaking will cover TEPCO's Higashidori plant in Aomori Prefecture, northeastern Japan, for which construction has been suspended due in part to tougher safety standards compiled by regulatory authorities.

[Copyright The Jiji Press, Ltd.]

Jiji Press