Toshiba To Pay $2.2B For Unit's Exit From SC Nuke Reactors

By Michael Phillis (July 28, 2017, 1:56 PM EDT) -- Westinghouse Electric Co. parent company Toshiba Corp. will pay nearly $2.2 billion to rid itself of obligations on two unfinished nuclear reactors at the Summer Nuclear Station in Jenkinsville, South Carolina, according to a statement released Thursday by the project owners.

Southern Carolina Electric & Gas Co., a subsidiary of SCANA Corp., and Santee Cooper entered into an agreement with Toshiba obligating the company to make payments in installations until September 2022. The agreement marks a step by Westinghouse, which entered bankruptcy earlier this year, to rid itself of nuclear obligations that have been mired in delays and cost overruns....

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!