Toshiba and Tenex to start JV discussions
Japan's Toshiba said that it will start negotiations with Russia's Techsnabexport (Tenex) on establishing a joint venture for enriched uranium sales.
In a statement Toshiba said, "In order to contribute to stable and secure supply of enriched uranium to the expanding nuclear power market, the parties have now agreed to start discussions on establishing the joint venture that will draw on the complementary capabilities of the companies: Tenex's supply of enriched uranium and Toshiba's nuclear fuel supply chain."
In March 2008, Toshiba and AtomEnergoProm (AEP) – the Russian state-owned parent company of Tenex – signed a general framework agreement under which they would explore collaboration in the civil nuclear power business.
The companies then started feasibility studies to consider cooperation in areas including design and engineering for the construction of new nuclear power plants, manufacturing and maintenance of large equipment, and "front-end civilian nuclear fuel cycle business." Toshiba said that the companies continue to discuss possible collaboration.
In March 2009, the two companies signed an agreement that built on the framework deal signed a year earlier. Toshiba and AEP said they would "consider establishing a joint venture which will be engaged in deliveries of nuclear fuel and its components."
Toshiba and Tenex - AEP's subsidiary for enrichment services and enriched uranium - then signed a memorandum of understanding (MoU) in May 2009 on discussions towards possible cooperation in the nuclear fuel business. At that time, Toshiba said that the MoU "particularly focuses on initiating studies of business concepts or commercial plans in connection with enriched uranium products." It added, "Both parties believe such a collaboration could contribute to stable and secure supply of services for the front-end civilian nuclear fuel cycle in Japan, the United States and elsewhere."
Both Toshiba and AEP are involved in reactor design and construction. Toshiba has supplied most of Japan's boiling water reactors and currently offers a version of the Advanced Boiling Water Reactor (ABWR). Toshiba is also the majority owner of US-based reactor technology firm Westinghouse. That company offers the AP1000 pressurized water reactor, which is set to be the first to be built in a modular fashion, and is also a major supplier of nuclear fuel. AEP is an umbrella firm that contains enterprises responsible for Russia's VVER pressurized water reactors, in use in Europe, China and India, as well as Russia.
Researched and written
by World Nuclear News
