Consortium to build $ 22 bn nuclear plant

Updated 03 May 2013
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Consortium to build $ 22 bn nuclear plant

ANKARA: Turkey’s energy minister has confirmed that the government has picked a Japanese-French consortium to build the country’s second nuclear power plant, a project expected to cost an estimated $ 22 billion.
The deal is expected to be signed by Turkey’s Prime Minister Tayyip Erdogan and his Japanese counterpart Shinzo Abe, who will be visiting Ankara, Energy Minister Taner Yildiz said.
The consortium consists of Japan’s Mitsubishi Heavy Industries Ltd, one of the builders of the Fukushima plants, Itochu Corporation and French utility group GDF Suez, which will operate the 4,500-5,000 MW plant.
The group has pledged to install an Atmea type nuclear plant, built by French nuclear engineering group Areva.
Yildiz said Turkey will also be a shareholder.
“Turkey will have a stake in the nuclear power plant that will be constructed in Sinop,” he said.
The consortium will also carry out work to help determine a site for Turkey’s third planned nuclear power plant, Yildiz added.
Turkey’s scarce energy resources mean it imports almost 97 percent of its energy needs.
Prime Minister Erdogan has been an advocate of the country’s ambitious nuclear program, which aims to help reduce its dependence on hydrocarbon fuels by providing 10 percent of the country’s total electricity needs by 2030.
Russia’s Rosatom is to build Turkey’s first nuclear power station, with its construction due to start in mid-2015 and first power due to flow in 2019, its deputy general manager said in February.
That $ 20 billion plant at Mersin Akkuyu on the Mediterranean coast will also have four power units with an installed generating capacity of 4.8 gigawatts (GW).


BlackBerry quarterly results beat on software strength

Updated 22 June 2018
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BlackBerry quarterly results beat on software strength

BENGALURU: Canadian software maker BlackBerry Ltd. on Friday reported quarterly revenue and profit that topped analysts’ estimates, driven by strong growth in its high-margin software and services business.
US-listed shares of BlackBerry rose 2.6 percent to $11.89 in premarket trading.
The Waterloo, Ontario-based company said revenue from its enterprise software and services business rose 18 percent to $189 million in the first quarter.
Blackberry, which dominated the smartphone market nearly a decade ago before losing out to Apple Inc’s iPhones and Android devices, has been trying to win investor confidence and make money by selling software to manage mobile devices to corporations and government agencies.
As part of the transition, the company is focusing on making software for next-generation driverless cars based on its QNX platform.
“I am pleased that BlackBerry QNX software is now embedded in over 120 million automobiles worldwide, doubling the install base in the last three years,” Chief Executive Officer John Chen said in a statement.
The company’s net loss was $60 million, or 11 cents per share, for the first quarter ended May 31, compared with a profit of $671 million, or $1.23 per share, a year earlier.
BlackBerry received a one-time arbitration payment of $940 million from Qualcomm Inc. in the year-ago quarter.
Excluding items, the company earned 3 cents per share. Analysts were expecting the company to break even on a per share basis, according to Thomson Reuters.
Total revenue fell 9.4 percent to $213 million, but still beat analysts’ estimate of $208 million.