Toshiba Corp. is planning another foray into an overseas nuclear-power industry, forced in part by the disastrous consequences of its previous failure abroad, sources said.
The Tokyo-based company has started negotiations with Energoatom, a Ukrainian state-run power company, to supply turbine generators for use in its nuclear power plants. The two companies concluded a memorandum in October 2017.
Toshiba in March 2017 said it was withdrawing from the business of designing and constructing entire nuclear power plants overseas following the collapse of its U.S. nuclear arm, Westinghouse Electric Co.
[…]
If Toshiba succeeds in the equipment supply business in Ukraine, it will consider looking at other markets abroad, the sources said.
Toshiba is desperate for a steady source of income.
The company purchased Westinghouse in 2006 for 600 billion yen (about $5.5 billion) to make inroads into the nuclear power business overseas.
[…]
Currently, there are no prospects for the construction of new reactors in Japan, while plans to restart idle reactors have faced a number of hurdles and local opposition. The company now can only expect business for decommissioning work.
So Toshiba began looking overseas to sell equipment and bolster its nuclear power business, the sources said.
Also behind Toshiba’s move was a sense of crisis concerning the planned sale of Toshiba Memory, its semiconductor subsidiary.
Read more at Toshiba seeks deal in Ukraine to revive nuclear power business
