TOKYO (AFP) - Kazakhstan is to pay 486.3 million dollars to buy a stake in US nuclear reactor firm Westinghouse from its majority owner Toshiba, news reports said Saturday.
The Japanese giant will sign an agreement this month to sell a 10-percent stake in Westinghouse to state-run uranium firm Kazatomprom for slightly more than 60 billion yen, the Nikkei newspaper said.
By forging ties with uranium-rich Kazakhstan Toshiba, which holds a 77-percent stake in Westinghouse, aims to secure stable supplies of the resource used by power plants, Jiji Press said.
Toshiba expects to win more orders to build power facilities from power companies in the United States and elsewhere by having Kazatomprom in its alliance and securing a long-term supply of uranium, the Nikkei added.
The tie-up will also help Kazatomprom expand its sales channels worldwide and accelerate mining projects, the Nikkei said.
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