Japanese consortium prepares for new nuclear company

A consortium of six Japanese companies established a new office for a new nuclear company. Tentatively named "International Nuclear Energy Development of Japan," this new company will be engaged in the activities to establish proposals for nuclear power plants projects in the emerging countries.

The consortium is comprised of the Tokyo Electric Power Co., Inc., Chubu Electric Power Co., Inc., Kansai Electric Power Co., Inc., Toshiba Corporation, Hitachi, Ltd., and Mitsubishi Heavy Industries, Ltd.

A "planning committee" established in June by the entities has been considering a public-private proposal that will aim to receive nuclear power plants project orders in Vietnam. The decision to set up the aforementioned office prior to the launch of the new corporate entity was made to ensure the swift execution of the promotion activities.

The official launch of "International Nuclear Energy Development of Japan" is scheduled for autumn of 2010 to be followed by the proposal of a comprehensive package that will allow the dissemination of Japanese technologies and know-how that have been cultivated over many years. In accordance with the needs and expectations of Vietnam and other emerging nations, these will include actual power plant construction, O&M and human resource development, all to be bolstered by legislative and financing support from the Japanese Government.