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US tells India bankrupt reactor Westinghouse could be sold by year end

The project was mentioned in Indian govt's joint communique from the Modi-Trump meet in Washington

Reuters  |  New Delhi 

The US administration has told India that Westinghouse Electric Co will emerge from bankruptcy and be sold by the year end, industry and diplomatic sources have said, raising the prospect of a Washington-supported sale or bailout for the nuclear firm. India, like other nuclear nations, has been closely watching the fate of Japanese-owned Westinghouse, which filed for Chapter 11 in March after an estimated $13 billion of cost overruns at two US projects, casting a shadow over the nuclear industry. There has been debate over potential US support for the reactor maker since owner ...

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First Published: Mon, July 03 2017. 10:28 IST