TVA Chooses Bechtel to Oversee Tennessee Reactor Project

KNOXVILLE, Tenn. (AP) -- The Tennessee Valley Authority has awarded Bechtel Power Corp. the main engineering, procurement and construction contract to build a second reactor at the Watts Bar nuclear station.

The five-year project getting underway in Spring City, about 50 miles south of Knoxville, has been budgeted at $2.49 billion. Bechtel, the country's largest nuclear contractor, will be eligible for up to $1 billion.

Teams led by Bechtel and Shaw/Stone & Webster were the only two bidders.

Bechtel also oversaw a $20 million internal study for TVA to determine whether to build the second reactor at Watts Bar. TVA spokesman John Moulton said "extra care" was taken to ensure that all information generated by that study was available to all bidders.