TOKYO Oct 12 Japan's Marubeni Corp (8002.T) said
it would announce a joint venture with Google Inc (GOOG.O) and
other companies to develop a submarine power cable network on the
U.S. Atlantic coast.
The announcement is due at 4 p.m. (0700 GMT) on Tuesday, a
Marubeni spokesman said.
The Nikkei newspaper said in its electronic edition that
Marubeni holds a 15-percent stake in the joint venture, which
will soon start a feasibility study on the cable project.
The project will have a maximum cost of 500 billion yen
($6.09 billion) and provide electricity to four U.S. states from
a 6,000 megawatt offshore wind farm, Nikkei said.
The venture hopes to receive approvals from the U.S. federal
government and the state governments of New Jersey, Delaware,
Maryland and Virginia by 2013 to lay a 2,000 kilometre cable
network in a project to be carried out by Atlantic Grid
Development of the United States, Nikkei said.
(Reporting by Risa Maeda; Editing by Edmund Klamann)