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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: shades who wrote (23956)	2/19/2005 8:52:54 PM
From: RealMuLan	Read Replies (1) of 116555

[And in case China is running out of money, the US will supply the loan<g>]--"UPDATE 2-U.S. gives initial OK to China nuclear plant loans' Fri Feb 18, 2005 03:34 PM ET (Adds company comment, details) WASHINGTON, Feb 18 (Reuters) - The U.S. Export-Import Bank has given preliminary approval for up to $5 billion in direct loans and guarantees to help British-owned Westinghouse Electric Co. and other U.S. suppliers win contracts to build four nuclear power plants in China, the bank said on Friday. China wants to build the plants to meet increased power demand in a heavily industrialized region. "Aggressive competition is expected from companies from other countries, along with the support of their respective governments," the bank said in a statement. The U.S. Ex-Im Bank board of directors approved a preliminary commitment request from Westinghouse to support exports to construct the power plants at two China sites. Westinghouse is pursuing contracts with China and will submit bids to its government by Feb. 28, a company spokesman said. No new nuclear plants have been ordered by U.S. utilities since the partial meltdown of the reactor core at the Three Mile Island plant in Pennsylvania in 1979. But China could build more than 20 nuclear plants over the next 15 years to fill widespread growth in demand for electricity, according to Westinghouse. reuters.com

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