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Japan's Chubu Electric Power Co is likely to sue Hitachi Ltd (6501.T: Quote, Profile, Research, Stock Buzz), seeking damages for the loss of earnings due to problems with a Hitachi-made turbine, a newspaper reported. Hitachi has said it will bear all the costs for repairing a broken turbine at Chubu's No. 5 nuclear unit at its Hamaoka plant in western Japan.
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General Electric Co., the world's biggest maker of power generation equipment, still plans to submit a bid to build Turkey's first nuclear power plant even though it will probably miss a Sept. 24 government deadline. GE's nuclear venture with Hitachi Ltd., Japan's third- largest builder of atomic plants, is working on a bid with partners Turkey's Haci Omer Sabanci Holding AS and Spain's Iberdrola SA, Jack Fuller, GE Hitachi Nuclear Energy's chief executive officer, said in an interview.
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Japan's Hitachi Ltd (6501.T: Quote, Profile, Research, Stock Buzz) said on Wednesday it will develop mid-size nuclear reactors together with General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) to tap growing demand for smaller nuclear power plants in Southeast Asia and other emerging markets.
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