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Lithuania Nuclear Investment Opportunities

Hitachi Continuing Talks with Lithuania over Nuclear Plant

Written by Swagato Chakravorty
Posted December 27, 2012 at 4:12PM

Hitachi Ltd. (TYO: 6501) of Japan is still involved in talks with Lithuania over plans for a nuclear plant, although that country’s newly-elected center-left government stated that it might put nuclear projects on hold.

Post-Fukushima, Japan has all but shut down its nuclear sector and everything remains quite hazy as far as further development is concerned. Thus, Hitachi has been seeking opportunities abroad. A nuclear joint venture with Lithuania’s previous government had already been in the pipeline.

Reuters reports:

"There might be a slight lag in the time period, but the talks have not been completely suspended," Hiroaki Nakanishi, Chief Executive of Hitachi, said at a press briefing.

Hitachi has good hopes for the nuclear sector worldwide. By fiscal year 2020, the company hopes to reach $4.25 billion in total sales.

Most recently, Hitachi merged its thermal power division with Mitsubishi’s, and both companies have expressed willingness toward collaborating on nuclear projects.

Hitachi shares rose 0.4 percent to touch 484 yen on Tuesday. That’s against a rise of 1.4 percent on the Tokyo Nikkei.

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