The combined value of the two deals could be worth $11 billion

modular unitsRussia and Vietnam signed a $5.6 billion deal Oct 31 to build two Russian VVER 1,000 MW reactors. In the same week

Japan announced it is closing a deal with Vietnam to build two more reactors in the same power range. With the Russian reactors coming in at $2,800/Kw, the combination of eight reactors in the two deals could be worth $11 billion.

Vietnam has several strategic objectives for building the reactors.

First, it needs the electricity to support its growing manufacturing role as an exporter to the West. Intel announced Oct 29 it is opening a $1 billion microchip manufacturing plant, the biggest in the company's history.

Second, Vietnam has huge bauxite deposits, the world's third largest deposit, in its central highlands. It wants to develop a finished goods aluminum industry which requires a lot of electricity.

Third, Vietnam knows it cannot compete with China for Mideast fossil fuels. It needs electricity from uranium fueled nuclear reactors to power its economy.

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