Japan and the United States are working to include a nuclear power project in the second round of deals under Japan’s US$550-billion (RM2.1-trillion) investment package.
The nuclear power project, which the sources say will involve Westinghouse, is designed to strengthen both countries’ energy supply chains as war in the Middle East renews concerns about energy security.
Several deals have been under discussion, to be potentially announced when Japanese Prime Minister Sanae Takaichi meets US President Donald Trump in Washington on March 19, said the sources, who declined to be identified as the matter was private.
Tokyo is scrambling to build up deals under the investment commitments it made as part of a US tariff agreement. It has already announced three projects valued at US$36 billion, including a natural gas power plant in Ohio.
A project to construct a copper smelting and refining facility is also being considered, the sources said.
Aiming to deepen the talks, Japan’s Trade Minister Ryosei Akazawa plans to visit the US from Thursday to meet US Commerce Secretary Howard Lutnick, two separate sources close to the matter said on Wednesday.
Westinghouse was one of about 20 companies mentioned in a joint fact sheet the two governments issued in October as having expressed interest in projects to be financed by Tokyo.
The US company, owned by Cameco and Brookfield, is looking at building pressurised water reactors and small modular reactors totalling up to US$100 billion, according to the fact sheet.
Japanese firms such as Mitsubishi Heavy Industries, Toshiba and IHI could be potentially involved, it said.
Last year, the US government inked a partnership worth at least US$80 billion with Westinghouse to build nuclear reactors, underlining Trump’s agenda to increase domestic energy output as the expansion of artificial intelligence data centres boosts demand.
The fact sheet also said Falcon Copper was considering building a US$2 billion copper smelting and refining facility and is exploring involvement from Japanese suppliers and off-takers.
Source: Theedgemalaysia