West­ing­house bank­ruptcy to have no ma­jor im­pact projects in na­tion

China Daily (Hong Kong) - - BUSINESS - By ZHENG XIN zhengxin@chi­nadaily.com.cn

West­ing­house’s bank­ruptcy would have no sub­stan­tial im­pact on the on­go­ing AP1000 nu­clear re­ac­tor con­struc­tion in China, said its Asia pres­i­dent.

The com­pany, a unit of Toshiba Corp, an­nounced its bank­ruptcy ear­lier this year amid huge losses.

“We don’t see im­pact due to the re­struc­tur­ing and we re­main com­mit­ted to de­liv­er­ing our San­men and Haiyang projects,” Gavin Liu, Asia pres­i­dent of West­ing­house, told China Daily on Tues­day.

A com­pre­hen­sive nu­clear safety check was com­pleted last month at the AP1000 reac- tor at unit 1 of the San­men nu­clear power plant in Zhe­jiang prov­ince, the world’s first AP1000 re­ac­tor. Fuel load­ing will take place later this month.

Mark Marano, chief op­er­at­ing of­fi­cer of West­ing­house, said: “We are look­ing for­ward to load­ing fuel in San­men in Au­gust”.

The com­pany said it will en­sure all the on­shore, off­shore, tech­nique re­sources and all the equip­ment are de­liv­ered on sched­ule, and will keep the San­man and Haiyang projects un­der qual­ity and safety man­age­ment.

The nu­clear com­pany filed for bank­ruptcy in March fol­low­ing bil­lions of dol­lars in cost over­runs at two nu­clear power plants it de­signed in Ge­or­gia and South Car­olina. It had re­cently reached a deal for an $800 mil­lion US bank­ruptcy loan.

Ac­cord­ing to Liu, the own­ers of the San­men and Haiyang projects will lead the process, from fuel load­ing to com­mer­cial op­er­a­tion. How­ever, West­ing­house will also play a key role in sup­port­ing and en­sur­ing the safety and con­tinue work­ing closely with EPC con­trac­tors to de­liver the fi­nal com­mer­cial op­er­a­tion.

West­ing­house, with a strong com­mit­ment to its on­go­ing projects, has been com­mu­ni­cat­ing with the Chi­nese gov­ern­ment and key cus­tomers of the AP1000 in China, he said.

The com­pany fin­ished San- men unit 1 in­spec­tion at the end of July, and will start the in­spec­tion work at Haiyang unit 1 this month.

“We are happy to see the San­men unit 1 and Haiyang 1 fi­nally en­ter the fuel load­ing stage.”

Liu said the com­pany is very op­ti­mistic about nu­clear de­vel­op­ment in China.

“We are very im­pressed with de­vel­op­ment in the past 10 years even af­ter the world went through the Fukushima in­ci­dent, with the whole world re­think­ing their nu­clear de­vel­op­ment poli­cies,” he said.

“We were glad to see the bold and wise de­ci­sions from the Chi­nese gov­ern­ment shortly af­ter the Fukushima ac­ci­dent and its re­it­er­a­tion of its com­mit­ment to nu­clear de­vel­op­ment.

“Nu­clear power as a clean and emis­sion free en­ergy has con­trib­uted a lot to op­ti­miz­ing China’s en­ergy mix, im­prov­ing na­tional se­cu­rity,” said Liu.

China in­creased its nu­clear power ca­pac­ity last year by an­other 8 GW, boost­ing its in­stalled ca­pac­ity to around 34 GW, ac­cord­ing to BMI Re­search, which pro­vides macroe­co­nomic, in­dus­try and fi­nan­cial mar­ket anal­y­sis.

Ac­cord­ing to the Na­tional De­vel­op­ment and Re­form Com­mis­sion, China’s nu­clear power ca­pac­ity is ex­pected to reach 58 GW by the end of the decade.

West­ing­house has suc­cess­fully trans­ferred its AP1000 tech­nolo­gies to China, based on which China has de­vel­oped its own CAP1400 tech­nol­ogy.

“We are op­ti­mistic about China’s fu­ture nu­clear de­vel­op­ment. It’s a unique force in the global nu­clear mar­ket,” said Liu.

Liu said West­ing­house’s co­op­er­a­tion with Chi­nese part­ners has been a very suc­cess­ful model, as the two par­ties work not only on Chi­nese projects but also projects world­wide, in­clud­ing in Turkey.

He cited the agree­ment be­tween West­ing­house, China’s State Nu­clear Power Tech­nol­ogy Cor­po­ra­tion and Elec­tric­ity Gen­er­a­tion Com­pany, the largest elec­tric power com­pany in Turkey, to de­velop and con­struct a four-unit nu­clear power plant site in Turkey based on AP1000 re­ac­tor tech­nol­ogy.

“The co­op­er­a­tion model be­tween China and West­ing­house has been very suc­cess­ful, a win-win for both par­ties,” said Liu.

SHI YAN / FOR CHINA DAILY

A man ex­am­ines an in­surance pol­icy brochure at an in­dus­try expo in Haikou, Hainan prov­ince.

Gavin Liu, Asia pres­i­dent of West­ing­house

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