Westinghouse has run the Springfields site on behalf of the Nuclear Decommissioning Authority for the past five years, but the company’s contract is due to expire in March 2010.

The arrangements include the permanent transfer of ownership of Springfields Fuels and a long-term lease when the current site management contract expires.

Aris Candris, president and chief executive of Westinghouse Electric, said to The Wall Street Journal: “This arrangement would give Westinghouse the opportunity to consider significant investment in the site as we continue to see strong signs of a nuclear renaissance, bringing with it increased demand for fuel supplies.”

Under the terms of the talks, the Nuclear Decommissioning Authority will retain ownership of the real estate and plant equipment of Springfields Fuel, and will lease them to Westinghouse.

According to The Wall Street Journal, this move comes as Toshiba plans to expand its global nuclear power business. It is expected to help Westinghouse cement its position in the UK nuclear industry.