China awards massive nuclear deal
Westinghouse, the nuclear-plant builder sold by British Nuclear Fuels earlier this year, has won a billion-dollar contract to build reactors in China.
The deal, worth about $8bn (£4.1bn), is for four nuclear plants. Analysts said that the deal may help soothe trade tensions with the US.
US-based Westinghouse defeated a number of other international companies to win the tender, including France's Areva and Russia's Atomstroiexport.
The fact that Westinghouse is now owned by Japan's Toshiba may also have helped secure the deal, especially after Japan's new Prime Minister Shinzo Abe signalled an intention to restore friendlier ties with China.
"This is all relationship driven," said David Hurd, an analyst at Deutsche Bank. "The US is putting pressure on China at the moment, so China's response is 'let's thrown them a bone,'" he explained.
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