Obama-Modi Nuclear ‘Breakthrough’ Has CEOs Wary of Fine Print
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President Barack Obama and Indian Prime Minister Narendra Modi hailed a breakthrough meant to spur a surge in civilian nuclear projects. Equipment suppliers are keeping the Champagne on ice.
Westinghouse Electric Co., the Monroeville, Pennsylvania-based nuclear builder owned by Toshiba Corp., will need to study an offer by India’s government to create an insurance pool that would help shield equipment suppliers from liability in the event of an accident, Chief Executive Officer Danny Roderick said. It will then look for commercial agreements with Indian companies to build nuclear power stations, he said.