January 23, 2013 / 7:31 PM / 5 years ago

Toshiba, GE eyeing fossil-fuel power JV - Nikkei

Jan 24 (Reuters) - Toshiba Corp and General Electric Co will begin discussions to form a joint venture to develop and sell fossil-fuel power equipment, the Nikkei reported.

The two companies aim to jointly develop highly efficient combined cycle gas turbine equipment, and plan to have equal stakes in the unit, which may be launched as early as this year, the business daily said.

Mitsubishi Heavy Industries and Hitachi Ltd said in November they would combine their thermal power businesses to compete against overseas rivals Siemens and GE, which are winning deals even in the Japanese firms’ backyard.

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