The Shaw Group and Toshiba Corp. have expanded their partnership to design and build nuclear power plants. The two companies announced today that Shaw will have exclusive opportunities to provide engineering, procurement and construction services for Toshiba’s Advanced Boiling Water Reactor nuclear power plants. Shaw will put up $250 million for the alliance and immediately begin work on Nuclear Innovation North America’s (NINA) South Texas Project Expansion. Of the money Shaw is contributing, $100 million will go to the South Texas project, which is expected to get full notice to proceed in mid-2012. The first unit at the power plant near Bay City, Texas, is slated to come on line in 2016, the second in 2017.
Shaw also announced it has started talks with Toshiba to extend its agreement for the Westinghouse AP1000 nuclear power technology for another four years. Shaw is currently working with Toshiba to build AP1000 power plants in the U.S. and China.
