Business / Companies

Westinghouse eyes big potential in China

By Zheng Xin ( Updated: 2016-10-14 09:33

Westinghouse said China plays an important role for the US nuclear giant.

"We intend to be in China for a long time to come," said Carrie Monaco, product development director from Nuclear Services Manufacturing Operations of the Westinghouse Electric Co.

"We will continue to provide service and equipment and will be very involved in maintaining the equipment for China."

She made the remark during a news conference in Beijing on Thursday.

The company said it plans further expansion and investment in the country, intending to play a strong role in the market.

Gavin Liu, president in Asia for Westinghouse, said earlier that Asia accounts for less than 25 percent of the company's overall business, but the figure is expected to rise to 35 percent to 40 percent in the next five to 10 years, driven by growth in countries such as China.

Westinghouse's investment will cover a wide range of businesses, including new nuclear projects, innovation, maintenance service, fuel supply and decommissioning.

The company said it expects to begin fuel loading at the world's first AP1000 nuclear plant in November, despite being several years behind schedule.

The move will pay the way for more opportunities in a booming nuclear market with more than 100 new nuclear power plants planned in coming decades, said the company.

The AP1000 is a pressurized water reactor, the latest technology that Westinghouse is pushing worldwide.

China is planning to build more than 100 new nuclear reactors, being the world's largest market for nuclear power plants, and many nuclear giants are eyeing on getting a piece of the pie.

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