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Eskom pulls plug on Nuclear-1

CAPE TOWN , South Africa, Dec. 8 (UPI) -- High costs led South Africa's Eskom public utility to cancel its plans for the Nuclear-1 power plant.

Bidders, including French firm Areva and Toshiba Corp.'s Westinghouse Electric Co., expressed understanding of the utility's decision, Business Report said.

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Even after pulling in about $5 billion last week, Eskom's board said that numbers for the plant were just too high.

The nuclear plant was planned to be operational by 2018.

Areva and Westinghouse spokesmen said they would not be opposed to considering future bids from Eskom.

Also, a loan from the World Bank will not be adversely impacted by the cancellation and could be used for another power project, an Eskom spokesman said.

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