DOW JONES NEWSWIRES

SCANA Corp.'s (NYSE:SCG) (SCG) South Carolina Electric & Gas Co. and Santee Cooper said Toshiba Corp.'s (Tokyo:6502) (6502.TO) Westinghouse Electric Co. and Shaw Group Inc.'s (NYSE:SGR) (SGR) Stone & Webster Inc. (NYSE:SGR) will design and build two 1,117-megawatt nuclear power plants at the site of the V.C. Summer Nuclear Station in South Carolina.

Terms of the deal weren't disclosed.

South Carolina Electric & Gas estimated the cost of the two stations to be about $9.8 billion, including contract price, site preparation and contingencies. The company will pay about $5.4 billion, and Santee Cooper will contribute the other $4.4 billion. They will also incur charges for transmission facilities and financing costs. South Carolina Electric & Gas will account for 55% of the station's operating cost and output and Santee Cooper the other 45%.

South Carolina Gas & Electric expects to file an application for a certificate of environmental compatibility, public convenience and necessity and base load review order with state officials later in the week.

Shaw expects construction to begin after federal regulatory approval in 2011. The plants are scheduled for completion in 2016 and 2019.

-Melissa Korn; 201-938-5400; AskNewswires@dowjones.com

    (END) Dow Jones Newswires   05-27-08 1700   Copyright (c) 2008 Dow Jones & Company, Inc.