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Saturday, March 22, 2008

Toshiba Inks Nuke Power Tie-Up with Russian State Firm

Toshiba Corp. said Thursday it has forged a tie-up with Russia's state-owned Atomic Energy Power Corp. in civilian nuclear power operations including power plant construction and fuel production.

Based on the alliance, the Russian firm dubbed Atomenergoprom will enrich uranium produced in Kazakhstan, while Toshiba will undertake nuclear fuel production and the designing and engineering of nuclear power plants, the companies said.

Toshiba President Atsutoshi Nishida and Atomenergoprom President Vladimir Travin signed a general framework accord in Moscow the same day.

To draw up concrete cooperation measures, the two firms are slated to study the feasibility of the designing and construction of commercial nuclear power plants in Russia.

They will also conduct similar studies on cooperation in manufacturing and maintenance of large nuclear power equipment and in the civilian nuclear fuel cycle business, including uranium mining and enrichment, they said.

The firms may establish a strategic partnership in the future, Toshiba said.

The tie-up comes as the Japanese firm faces heated rivalry in the United States to win orders to build nuclear power plants. By securing a stable supply of nuclear fuel through the alliance with Atomenergoprom, Toshiba hopes to sharpen its competitive edge, its officials said.

(Source: JCN Network)

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