If concluded, the agreement also would extend the Japanese yen-denominated option to sell Shaw’s investment in Westinghouse to Toshiba through 2017.
Shaw’s chairman, president and CEO JM Bernhard Jr said that the continuation of the agreement will further solidify the companies’ joint commitment for the realization of nuclear power on a worldwide basis.
Shaw also intends to evaluate financing extension opportunities related to the limited recourse yen-denominated bonds currently outstanding.
Shaw and Westinghouse are under contract to provide engineering, procurement and construction services for six new AP1000 nuclear power units in the US, the first contracts awarded in nearly 30 years for new nuclear power plants, as well as four units currently under construction in China.
