Taiyuan Heavy Machinery Group has signed agreements with Westinghouse Electric’s PaR Nuclear to create a joint venture (JV) PaR-TZ Nuclear Company in Taiyuan, China.
PaR Nuclear will hold a majority interest in the JV which will provide crane components, fuel-handling equipment and other services and spare parts for the Chinese nuclear market.
PaR Nuclear president Bill Burns said there is a huge nuclear-specific market for crane components, fuel-handling equipment, spare parts, and outage and installation services in China.
"We are pleased to be joining with TYHM to broaden our collective reach and further enhance our ability to provide equipment and services to the Chinese nuclear market," said Bill Burns.
Westinghouse Asia president Jack Allen said China is a fast-growing economy and there is a dramatic need for more electricity generation.
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By GlobalData"Clean, safe, reliable nuclear power will be an important source of that electricity, and this arrangement enables us to provide close-to-the-customer solutions and support for crane component and fuel-handling equipment needs," said Allen.
PaR Nuclear is a supplier of fuel-handling equipment and nuclear cranes.
Westinghouse Electric Company is a group company of Toshiba Corporation and a supplier of nuclear plant products and technologies to utilities.
