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Sunday, December 17, 2006

China awards massive nuclear deal

Westinghouse signs a $8-billion deal to build four nuclear plants in China

This has been a while in coming. Westinghouse won the deals in a very competitive field.

I found this part interesting...

The fact that Westinghouse is now owned by Japan's Toshiba may also have helped secure the deal, especially after Japan's new Prime Minister Shinzo Abe signalled an intention to restore friendlier ties with China.

Of course, the deal involves transfer of nuclear technology to China. And after China buys these four plants from Westinghouse, it will "clone" that technology and build 20 nuke plants all on its own. But good for Westinghouse for getting the deal.

Maybe this is why Australian uranium stocks are jumping today.
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