Jan. 5 (Bloomberg) -- Westinghouse Electric Co., a unit of Toshiba Corp., will help a Chinese nuclear technology developer build a new type of reactor to meet rising demand for atomic power in the world’s fastest-growing major economy.
State Nuclear Power Technology Corp. plans to develop two CAP 1400 reactors that will be based on Westinghouse’s existing AP 1000 design, Guo Hongbo, director of general office at the state-controlled company, said in an interview in Beijing today.
China and India are leading the biggest atomic expansion since the decade after the 1970s oil crisis to cut pollution and power their economies. Westinghouse expects additional Chinese orders after selling four AP 1000 units to China three years ago, Jack Allen, Westinghouse’s president for Asia, said in November.
State Nuclear Power is leading the development of the CAP 1400 units and will own the brand, according to Guo, declining to comment on costs. Westinghouse will play a supportive role by providing feedback on design, Guo said.
Construction of the first CAP 1400 reactor in Rongcheng, Shandong province, may commence in 2013 and the reactor may start up by 2017, Guo said. The development of the second, also in Rongcheng, may begin about six months after work on the first has started, according to Guo.
Toshiba, which makes electronics goods as well as power equipment, rose 2.5 percent to close at 460 yen in Tokyo trading, the highest since July 29. The benchmark Nikkei 225 Stock Average fell 0.2 percent.
Hiroki Yamazaki, a spokesman at Toshiba, declined to comment on development costs or other details. Westinghouse spokesman Vaughn Gilbert didn’t immediately comment when contacted by telephone.
China, which started operating its first commercial nuclear plant in 1994, may export the CAP 1400 technology in the future, according to Guo.
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