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The South Texas Project nuclear plant, where Toshiba is withdrawing from a plan for two additional reactors.
Business

Toshiba pulling plug on US nuclear reactor plan

Write-downs, delays spell end to Texas project

| Japan

TOKYO -- Toshiba appears set to withdraw from a plan to build two nuclear reactors at a U.S. power plant amid sizable write-downs on American nuclear operations and lengthy construction delays.

The Japanese manufacturer had been contracted to build the third and fourth reactors for U.S. utility NRG Energy's South Texas Project, taking Toshiba's advanced boiling water reactors abroad for the first time. Toshiba looks to pull out of the project, and will decide later what to do with its stake in the joint venture that serves as the developer.

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