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'US, Japan in talks to prevent China's grip on nuclear, power grid'

Westinghouse filed for bankruptcy hit by billions of dollars of cost overruns at nuclear reactors

Reuters 

US President, Donald Trump, trump
US President Donald Trump. Photo: Reuters

The Trump administration and the Japanese government are in discussions to ensure that the bankruptcy of Corp's US unit Westinghouse Electric Co does not lead to US technology secrets and infrastructure falling into Chinese hands, a US official said on Thursday.

Westinghouse filed for bankruptcy last month hit by billions of dollars of cost overruns at four reactors under construction in the US Southeast.

The bankruptcy is likely to lead to the eventual sale of Westinghouse's business and Chinese interests have been seen as possible buyers, given the chance.

"It's is a real concern; they've wanted to get their hands on and infrastructure for a long time," an official in the US administration told Reuters as China's President Xi Jinping arrived in the on Thursday for a first summit with President Donald Trump.

"You go into a situation like the situation where there's financial chaos. There's a chance that things can happen in a way that’s dangerous."

Some technologies are dual use, meaning they can be used for civilian and military purposes.

The official, who spoke on condition of anonymity, said conversations were going on between the US and Japanese governments "on ways to mitigate a potential sale."

"There are ways that are being looked at, both formally and informally, to make sure there is no threat to critical infrastructure," the official said.

An inter-agency body of the US government known as the Committee on Foreign Investment in the (CFIUS) and its Japanese equivalent review the national security implications of foreign investments in firms.

South Korea's State-controlled Korea Electric Power Corp (KEPCO) has been considered the likeliest potential buyer for Westinghouse.

Like Japan, South Korea is a security ally of the United States, while is a fast-growing strategic rival.

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'US, Japan in talks to prevent China's grip on nuclear, power grid'

Westinghouse filed for bankruptcy hit by billions of dollars of cost overruns at nuclear reactors

Westinghouse filed for bankruptcy hit by billions of dollars of cost overruns at nuclear reactors
The Trump administration and the Japanese government are in discussions to ensure that the bankruptcy of Corp's US unit Westinghouse Electric Co does not lead to US technology secrets and infrastructure falling into Chinese hands, a US official said on Thursday.

Westinghouse filed for bankruptcy last month hit by billions of dollars of cost overruns at four reactors under construction in the US Southeast.

The bankruptcy is likely to lead to the eventual sale of Westinghouse's business and Chinese interests have been seen as possible buyers, given the chance.

"It's is a real concern; they've wanted to get their hands on and infrastructure for a long time," an official in the US administration told Reuters as China's President Xi Jinping arrived in the on Thursday for a first summit with President Donald Trump.

"You go into a situation like the situation where there's financial chaos. There's a chance that things can happen in a way that’s dangerous."

Some technologies are dual use, meaning they can be used for civilian and military purposes.

The official, who spoke on condition of anonymity, said conversations were going on between the US and Japanese governments "on ways to mitigate a potential sale."

"There are ways that are being looked at, both formally and informally, to make sure there is no threat to critical infrastructure," the official said.

An inter-agency body of the US government known as the Committee on Foreign Investment in the (CFIUS) and its Japanese equivalent review the national security implications of foreign investments in firms.

South Korea's State-controlled Korea Electric Power Corp (KEPCO) has been considered the likeliest potential buyer for Westinghouse.

Like Japan, South Korea is a security ally of the United States, while is a fast-growing strategic rival.
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Business Standard
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'US, Japan in talks to prevent China's grip on nuclear, power grid'

Westinghouse filed for bankruptcy hit by billions of dollars of cost overruns at nuclear reactors

The Trump administration and the Japanese government are in discussions to ensure that the bankruptcy of Corp's US unit Westinghouse Electric Co does not lead to US technology secrets and infrastructure falling into Chinese hands, a US official said on Thursday.

Westinghouse filed for bankruptcy last month hit by billions of dollars of cost overruns at four reactors under construction in the US Southeast.

The bankruptcy is likely to lead to the eventual sale of Westinghouse's business and Chinese interests have been seen as possible buyers, given the chance.

"It's is a real concern; they've wanted to get their hands on and infrastructure for a long time," an official in the US administration told Reuters as China's President Xi Jinping arrived in the on Thursday for a first summit with President Donald Trump.

"You go into a situation like the situation where there's financial chaos. There's a chance that things can happen in a way that’s dangerous."

Some technologies are dual use, meaning they can be used for civilian and military purposes.

The official, who spoke on condition of anonymity, said conversations were going on between the US and Japanese governments "on ways to mitigate a potential sale."

"There are ways that are being looked at, both formally and informally, to make sure there is no threat to critical infrastructure," the official said.

An inter-agency body of the US government known as the Committee on Foreign Investment in the (CFIUS) and its Japanese equivalent review the national security implications of foreign investments in firms.

South Korea's State-controlled Korea Electric Power Corp (KEPCO) has been considered the likeliest potential buyer for Westinghouse.

Like Japan, South Korea is a security ally of the United States, while is a fast-growing strategic rival.

image
Business Standard
177 22