Itochu Corp. is backing away from Sinop

Major trading house Itochu Corp. is backing away from Sinop nuclear power plant project in Turkey, owing to a surge in safety-related costs. Itochu withdrew at the end of March from a consortium that had been conducting a feasibility study for a 4,500-megawatt plant in the Black Sea coast city of Sinop. Mitsubishi Heavy Industries continue to participate in the study.

It is now deemed difficult for the plant to become operational in 2023 as targeted, amid surging costs linked to safety measures and with total costs for the project ballooning to more than double the initially estimated 2 trillion yen (about $18.5 billion). Safety-related costs to build nuclear plants have soared since the 2011 nuclear disaster at the Fukushima Daiichi plant, triggered by a magnitude-9.0 earthquake and ensuing tsunami.

Arnaud Lefevre

Arnaud Lefevre

Arnaud Lefevre is the Chief Executive Officer of Dynatom International. Arnaud is in charge of the international development of the business portfolio.
0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments

Don’t Stop Here

Saudi Arabia hosts IAEA

King Abdullah City for Atomic and Renewable Energy (KA CARE) hosted the International Atomic Energy Agency (IAEA) from 15 to 24 July 2018 for an

Meeting between KA CARE and CNNC

The vice-president of King Abdullah city for atomic and renewable energy (KA CARE), Dr. Waleed bin Hussein Al-Farag arrived in Beijing to hold meetings with

Scroll to Top