March 30, 2017 / 4:15 AM / 6 months ago

China says Westinghouse bankruptcy won't have big impact on nuclear plans

SHANGHAI, March 30 (Reuters) - China’s State Power Investment Corp said Westinghouse Electric Co’s bankruptcy filing would not have a “substantial impact” on the country’s nuclear plans.

In a statement published on Thursday, the state-owned power firm said the two sides would continue to work together to make sure the world’s first Westinghouse-designed AP1000 reactor project, due to go into operation at Sanmen on China’s eastern coast this year, would be completed on schedule.

“The two sides were fully aware of the importance of the Chinese AP1000 project and agreed to continue to make the project a common priority and increase investment to ensure that the target of putting the reactor into operation this year is met,” the statement said.

Westinghouse, owned by Japanese conglomerate Toshiba , filed for bankruptcy on Wednesday as a result of billions of dollars of cost overruns at four reactors under construction in the United States. (Reporting by David Stanway; Editing by Edwina Gibbs)

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