Japan's government and firms plan to jointly develop next-generation nuclear reactors, eyeing global demand for cleaner technology to process enriched uranium, a government official said on Friday. Some 10 companies including Toshiba Corp., Tokyo Electric Power Co., Hitachi Ltd and Mitsubishi Heavy Industries Ltd will take part in the project, which aims to commercialise the reactors by 2025.

The government would help the companies develop light-water nuclear power reactors that would produce roughly 40 percent less nuclear waste to produce the same amount of elshared by the government and the companies, he said. Energy-hungry Japan, which relies on nuclear power for over 30 percent of its electricity, is gearing up to replace 20 nuclear reactors between 2010 and 2030. Japanese nuclear reactor makers hope to benefit from a recent surge in popularity in nuclear power abroad, amid fears of global warming and rising prices of natural gas and oil.

Toshiba Corp. bought Westinghouse Electric Co. last year, Hitachi Ltd. merged its nuclear unit with General Electric Co. and Mitsubishi Heavy Industries Ltd. has partnered with France's Areva to better win contracts abroad. Toshiba Corp. shares were up 1.7 percent, Hitachi was up 1.7 percent and Mitsubishi Heavy was up 1.3 percent at 0514 GMT.
(Planet Ark, 16/07/2007)