The Shaw Group and Westinghouse have received notice to proceed with plans to build two nuclear power units near Augusta, Ga. The notice, from Southern Nuclear, gives Shaw the go-ahead to start clearing land, building support facilities and infrastructure for the plant. The two new units at Vogtle Electric Generating Plant would be the first new nuclear construction in the United States in more than 30 years. Shaw officials have a tentative opening date of 2016 for the first unit and 2017 for the second nuclear unit.
Meanwhile, Shaw posted a nine-fold increase in fiscal second-quarter earnings on Wednesday. For the three months ending Feb. 28, Shaw earned $36.3 million, or 43 cents per share, on revenue of $1.68 million. During the previous second quarter, the company earned $4 million, or 5 cents per share, on revenue of $1.64 billion.
