The dominance of Japan Steel Works in a key segment of the nuclear industry is being eroded by Chinese competitors capitalising on the country’s booming demand for nuclear power, according to its president.
Ikuo Sato told the Financial Times that China was spawning a number of new players in the specialised business of making large and strong steel components for nuclear pressure vessels, a field where JSW is by some way the world leader.
“I feel there are a lot of Chinese competitors which are going to be big threats for us in a few years’ time,” Mr Sato said.
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