$10B Houston Area Nuclear Plant Expansion Clears Hurdle
NRC had raised question of partial foreign ownership.
A federal body has explained that a stalled nuclear plant project near Houston could move forward because it does not have "foreign ownership, control or domination."
The U.S. Nuclear Regulatory Commission Atomic Safety and Licensing Board released an explanation of its earlier ruling in April that said the South Texas Project in Bay City is OK to move forward. The U.S. Nuclear Regulatory Commission had previously expressed concerns that the project violated laws that ban a foreign entity from owning or operating nuclear facilities in the U.S.
The South Texas Project, which would build new nuclear reactor units outside of Houston, has primarily been led by Houston-based NRG Energy Inc. (NYSE: NRG).
NRG previously invested $480 million into the project for two reactor units as part of the Nuclear Innovation North America, or NINA, which is a joint venture between NRG and Falls Church, Va.-based Toshiba American Nuclear Energy Corp. The Toshiba parent company is Japanese and was the source of the federal concerns.
The entire project would cost about $10 billion and bring jobs and nuclear power to the region.
Click here to read the full story.
Source: Houston Business Journal
CONTRACTOR SUPPLY MAGAZINE
The April/May 2024 issue of Contractor Supply magazine is here!
This digital edition is sponsored by BECK AMERICA Inc.
Our cover story, Masters of Fasteners, visits Interstate Screw Corp. of metro Miami, which serves the fastening needs of south Florida, the Caribbean and Central and South America.
Also in this issue,our Industry Updates cover Adhesives, Tapes and Sealants, Anchoring Systems and Safety and PPE.
This digital edition is fully searchable and contains live links to every advertiser and new product listing. Click away!
