Concerns about possible construction cost hikes at two U.S. nuclear expansion projects escalated after parent company Toshiba Corp. revealed that Westinghouse determined the cost to complete them “will far surpass the original estimates.” The resulting corporate writedowns—cited in reports of Toshiba Chairman Shigenori Shiga’s planned resignation—are expected to be detailed during a Feb. 14 Toshiba earnings call, a Westinghouse spokesperson said.
Noting “increases in key project parameters,” Toshiba reported that the amount of goodwill associated with Westinghouse’s acquisition of Chicago Bridge & Iron/Stone & Webster’s U.S. Plant Vogtle and V.C. Summer contracts would rise to “several billion U.S. dollars” from the original $87-million estimate. The financial revisions result from Westinghouse’s assessment of the value of assets and liabilities acquired from the December 2015 deal.
Because it can moderate the damaging effects of earthquakes, base-isolation is a technique used primarily in seismically active regions. ENR takes a look at some of the largest applications of base-isolation technologies in the world.