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Strategies & Market Trends : Natural Resource Stocks
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From: Julius Wong9/18/2024 8:37:21 PM
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Rolls-Royce wins bidding to develop small nuclear reactors in Czech Republic

Sep. 18, 2024 3:33 PM ET
By: Carl Surran, SA News Editor

vchal/iStock via Getty Images

Rolls-Royce ( OTCPK:RYCEY) ( OTCPK:RYCEF) is poised to obtain the first order from a European government to build a fleet of small nuclear reactors, after the company beat out six competitors to be named the preferred supplier by Czech Republic state utility CEZ, the Financial Times reported Wednesday.

The head of Rolls-Royce's ( OTCPK:RYCEY) ( OTCPK:RYCEF) small-modular reactor business, Chris Cholerton, told FT that the "landmark" partnership would "further strengthen" the company's position in Europe's market to build the small facilities.

Talks remain underway to finalize contractual terms and the agreement remains subject to regulatory clearance, but FT reported the deal could generate billions of pounds worth of export orders for U.K. industry.

The first reactor is planned near the South Bohemian Temelín nuclear power plant, and likely will be built in the mid-2030s.

Rolls-Royce ( OTCPK:RYCEY) ( OTCPK:RYCEF) is one of five companies still involved in a government-run competition to win support to build small-modular reactors in the U.K.
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