Mitsubishi Heavy plans $84 million capital outlay-Nikkei
Date: 05-Aug-02
Country: JAPAN
Company sources were quoted as saying that the firm would spend the amount by the end of fiscal 2003 to install production machines, such as large cranes and new machine tools, at its shipyard in Kobe, western Japan.
The aim is to produce advanced pressurised water reactors for use at a nuclear power plant in Tsuruga, on the Sea of Japan, and possibly exporting nuclear power equipment to the United States.
Company officials were not immediately available for confirmation.
The Tsuruga plant will be Japan's first to use an advanced pressurised water reactor, which is more reliable and has greater output than smaller pressurised water reactors.
Construction is expected to begin on two such reactors at the plant in fiscal 2005 with the aim of having them onstream in fiscal 2010, the paper said.
