Shaw and Westinghouse receive notice to proceed on nuclear power plant construction

The Shaw Group Inc. (NYSE: SHAW) and Westinghouse Electric Co. on April 19 said they received full notice to proceed from South Carolina Electric & Gas (SCE&G), principal subsidiary of SCANA Corp., on its engineering, procurement and construction (EPC) contract for two Westinghouse AP1000 nuclear power units and related facilities at the V.C. Summer nuclear power plant in South Carolina.

Owned by SCE&G and Santee Cooper, the project received approval from the South Carolina Public Service Commission for its new nuclear plants in February 2009. In March 2012, SCE&G received its combined license (COL) from the Nuclear Regulatory Commission for the new nuclear units.

The contract previously was announced in May 2008 with limited amounts booked into backlog at that time. The undisclosed balance of the contract will be added to the company's backlog of unfilled orders in the third quarter of fiscal year 2012.

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