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USEC, Toshiba, and Babcock & Wilcox to extend agreement
18 August 2011: USEC has entered into an amendment to its standstill agreement with Toshiba America Nuclear Energy Corporation (Toshiba), and Babcock & Wilcox Investment Company (B&W) to extend the agreement through 30 September 2011.
The amended agreement provides a limited additional period of time for USEC to finalize and enter into a conditional commitment with the U.S. Department of Energy for a $2 billion (approx Rs 9000 crore) loan guarantee to support the construction of the American Centrifuge Plant and achieve the closing of the second phase of Toshiba and B&W’s investment in USEC.
Source: Your industry News