If Toshiba Can't Finish Nuclear Job, Scana May Find Another
- Toshiba took a $6.3 billion writedown for U.S. projects
- Toshiba told Scana it would complete the nuclear expansion
What's Ahead for Toshiba After Revealing $6.3B Loss
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Scana Corp. may end up seeking a new contractor to complete two nuclear reactors it’s building in South Carolina if Toshiba Corp., plagued by financial woes, can’t finish the job.
The utility owner could also step in to complete the work itself at the V.C. Summer nuclear station should Toshiba’s Westinghouse Electric Co. unit drop out, Scana’s Chief Executive Officer Kevin Marsh said Thursday during a call with investors. The company said it expects Toshiba to foot the bill for any additional costs resulting from the latest project delays based on an existing agreement. Toshiba shares in Tokyo fell 10 percent to an 11-month low on Friday.