Toshiba said close to ~$5B deal to build nuclear reactor in Bulgaria

|About: Toshiba Corp. (TOSBF)|By:, SA News Editor

Toshiba's (TOSBF) U.S. subsidiary Westinghouse Electric reportedly is near a deal to construct a nuclear reactor for a state-run utility in Bulgaria, with an agreement possibly being reached later this week.

The price tag for the reactor with an output of 1M-1.2M KW is estimated at ~500B yen ($4.87B), and Westinghouse also may gain a stake in a nuclear power subsidiary of the Bulgarian company.

The project would mark the first such order for a Japanese enterprise in eastern Europe, as firms seek new opportunities abroad amid decreased domestic demand since the March 2011 earthquake and tsunami.