Hitachi sees over 1tn yen in business for Japan companies
TOKYO -- A nuclear power project in the U.K. will generate more than 1 trillion yen ($8.42 billion) in orders for Japanese businesses, it was learned Sunday, giving a shot in the arm to exports by an industry suffering from a lack of orders at home since the Fukushima accident of 2011.
More than 3 trillion yen is budgeted for the project if joint venture Hitachi-GE Nuclear Energy constructs four advanced boiling water reactors -- and an even higher sum if six reactors get the nod. Hitachi has invited 40 or so Japanese companies to a meeting at the British Embassy here to explain details.
Hitachi has not revealed the invitees. But Nippon Steel & Sumitomo Metal and JFE Holdings unit JFE Steel, both strong in pipes used to transfer heat from the reactors, appear likely to attend. So does Japan Steel Works, with a wealth of experience in forged steel products used in reactors.
Also expected are water supply pump manufacturer Ebara as well as Kurita Water Industries and Kubota. Shimizu and Kajima, which have experience building housing structures for nuclear plants in Japan, will also likely go.
While Hitachi-GE will handle the reactor core, Japanese companies are expected to undertake key technologies for operating the nuclear plant, giving Japan about 40% of the project total.