Joint Venture Between Luminant and Mitsubishi for Comanche Peak in Glen Rose (Somervell Co)Somervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


 

Joint Venture Between Luminant and Mitsubishi for Comanche Peak in Glen Rose (Somervell Co)
 


4 February 2009 at 3:23:42 PM
salon

but why?

MHI established Mitsubishi Nuclear Energy Systems, Inc. (MNES), as a wholly owned subsidiary in Washington, D.C., in July 2006 to introduce the US-APWR to the U.S. market. MHI submitted an application to have the US-APWR design certified by the NRC in December 2007; that application is currently under NRC review. Mitsubishi Corporation, an MHI partner, is also supporting this project.

"The establishment of the joint venture between MHI and Luminant will allow the Comanche Peak project to move forward as economically and efficiently as possible," said Frank Gillespie, senior vice president, new plant technology, of MNES. "By having a single joint-venture entity managing the COL and funding the project development costs, we can be the most responsive to requests by the NRC and other agencies as the process moves forward."

because Luminant doesn't have the money to build and wants to tap not only the US govt but also Japan?

Luminant and MHI will seek official support for financing from the U.S. and Japanese governments. The joint venture has submitted a loan guarantee application to the U.S. Department of Energy.

Or is it because you can't have a partnership with a company that isn't from the US?

Joint ventures are usually justified on the grounds that the specific project is risky and requires large amounts of capital. Thus, joint ventures are common in resource extraction industries where capital costs are high and where the possibility of failure is also high. They are often cooperation's between a local and foreign company.

A joint venture is often seen as a very viable business alternative in this sector, as the companies can complement their skill sets while it offers the foreign company a geographic presence. For companies, they are a great way to minimize risk by "dipping their toes in the water" without committing to a long-term relationship. However, the lack of long-term commitment and sometimes unclear relationships can cause a whole host of other challenges

Joint ventures are usually resorted to by corporations - domestic or foreign-based - which are not allowed to form partnerships or become partners in a partnership. And only individual, natural persons are permitted to form partnerships. Joint ventures are definitely the way to go.

So. They can't have a partnership but they need money, marketing and other stuff. So it's called a joint venture.


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