Talks Continue Over Building Nuclear Reactor in Bulgaria

Westinghouse, part of Toshiba Corp, said on Thursday it had agreed with Bulgarian authorities to continue talks over the construction of a new nuclear reactor after a deadline for confirming the deal to build the unit expired.

"Westinghouse Electric Company announced that, despite the expiring of the agreement for Unit 7 at Kozloduy Nuclear Plant, discussions will continue for a new structure and timeline," the company said in a statement.

Bulgaria's government has said that it can only push ahead with a $7.7 billion deal with Westinghouse if the company agrees to become a strategic investor in the project.

Reporting By Tsvetelia Tsolova