Hitachi, Mitsubishi Heavy looks for closer ties

Fukushima Decommissioning involves long-term nuclear plant cleanup as TEPCO taps Hitachi, Toshiba, GE, and partners like Babcock & Wilcox and Shaw Group to retire damaged reactors after the 2011 earthquake, tsunami, and radiation crisis.

Hitachi Ltd and Mitsubishi Heavy Industries Ltd will explore bolstering ties over Japan's stricken Fukushima Daiichi nuclear power plant, as Hitachi looks to win a multibillion dollar contract to scrap its damaged reactors.

Hitachi and rival Toshiba Corp each submitted separate proposals for the long-term decommissioning of the hobbled nuclear plant earlier this month, a major power play experts say could take more than a decade and cost up to $19 billion.

Hitachi has also enlisted the help of overseas firms including General Electric Co GE in its bid to win the decommissioning order, while Toshiba, which launched a steam turbine company with IHI, is being aided by Babcock & Wilcox Co and Shaw Group Inc.

Hitachi and Mitsubishi Heavy, which already have business ties, said they are looking at ways to work together to help improve conditions at the plant and aid operator Tokyo Electric Power Co, which has established a compensation plan, and the government.

Radiation leaks from the northern Japan plant, which was severely damaged by the massive earthquake and tsunami on March 11, have made it the world's worst nuclear crisis since the Chernobyl disaster 25 years ago, renewing debate over the industry's nuclear safety record in Japan and abroad.

Toshiba manufactured two of the Fukushima Daiichi reactors by itself and two jointly with GE, and is finalizing deals to build U.S. reactors as well. Hitachi manufactured another, with a sixth supplied by GE.

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