Japanese companies establish nuclear group

 A consortium of 13 Japanese companies will establish the "International Nuclear Energy Development of Japan Co., Ltd." or JINED today.

The consortium is comprised of Hokkaido Electric Power Co., Inc., Tohoku Electric Power Co., Inc., The Tokyo Electric Power Co., Inc., Chubu Electric Power Co., Inc., Hokuriku Electric Power Company, The Kansai Electric Power Co., Inc., The Chugoku Electric Power Co., Inc., Shikoku Electric Power Co., Inc., Kyushu Electric Power Co., Inc., Toshiba Corporation, Hitachi, Ltd., Mitsubishi Heavy Industries, Ltd. and Innovation Network Corporation of Japan

JINED will be engaged in activities leading to the creation of proposals to support nuclear power plant projects in the emerging countries. Under legislative and financing support from the Japanese Government, JINED intends to submit these public-private proposals as a comprehensive package that will contribute to the introduction of safe and reliable nuclear power plants for the countries and allow the dissemination of Japanese technologies and know-how, such seasoned experience includes actual power plant construction, O&M and human resources development.

Currently, JINED in collaboration with the Ministry of Economy, Trade and Industry of Japan(METI) and other entities is aiming to win nuclear power plant project orders in Ninh Thuan province, Vietnam. In order to fulfill Vietnam's own needs and requests, JINED is creating concrete plans for power plant construction and human resources development.

JINED will be established with US$2.46 million of equity capital, including US$1.23 million of capital reserve. Mr. Ichiro Takekuro, Fellow of The Tokyo Electric Power Company Co., Inc., is to assume the Presidency of JINED.