India does not expect fallout from the financial meltdown at Toshiba Corp to halt plans to buy six nuclear reactors from the Japanese company’s US nuclear unit Westinghouse, a senior government official told Reuters on Friday.
Toshiba this week booked a $6.3 billion charge related to huge cost overruns at Westinghouse, forcing it to put its flash-memory chip business up for sale to stay solvent and pull out of nuclear power plant construction overseas.
India has been in talks to locate half a dozen Westinghouse AP1000 reactors in the southern state of Andhra Pradesh under its drive to expand nuclear generation and wean the economy off polluting fuels like coal.
Prime Minister Narendra Modi and former US President Barack Obama made nuclear cooperation a cornerstone of their friendship, announcing at a summit last year that a Westinghouse deal should be finalised this June. Read More…
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