Nuclear Industry Radiating Life

Source:

There are new signs of life in the domestic nuclear industry as United States-based Westinghouse announced an acquisition, saying it was increasing its local presence to supply South Africa’s new nuclear power programme.

There are new signs of life in the domestic nuclear industry as United States-based Westinghouse announced an acquisition, saying it was increasing its local presence to supply South Africa’s new nuclear power programme.

Government has said that it wants nuclear power to supply 30% of the country’s energy needs by 2025. This is 20000MW of power, a capital cost of about R560-billion at estimated nuclear costs of R28-million per megawatt. To put this into perspective, this is slightly below government’s projected revenue for 2007/08 of R575-billion.

Both of the world’s two major nuclear players have now set up shop in South Africa. On Monday Westinghouse said it had acquired local company IST Nuclear for an undisclosed sum.

Related Articles

Get Our Streetwise Reports Newsletter Free

A valid email address is required to subscribe