Failed nuclear contractor signs $21 million deal, working with feds

FILE - This Sept. 21, 2016 file photo shows Unit one of the V.C. Summer Nuclear Station near Jenkinsville, S.C. Federal authorities say a fourth executive has been charged for his role in a failed multibillion-dollar project to build two nuclear reactors at the V.C. Summer site in South Carolina. Former Westinghouse executive Jeffrey A. Benjamin faces multiple felony counts of fraud, according to an indictment filed Wednesday, Aug. 18, 2021. (AP Photo/Chuck Burton, File)

The chief contractor at a failed multibillion-dollar project to build two nuclear reactors in South Carolina has agreed to pay more than $20 million as part of a cooperation agreement with federal authorities probing the fiasco.

Under an agreement announced Monday by Acting U.S. Attorney Rhett DeHart, Westinghouse Electric Co. will contribute $5 million to a program intended to assist low-income ratepayers affected by the project's failure. Another payment of $16.25 million will be due before July 1, 2022.

The company will also be required to cooperate with federal investigators still probing the company's role in the 2017 debacle, which cost ratepayers and investors billions and left nearly 6,000 people jobless.

Westinghouse was the lead contractor on the construction of two new reactors at the V.C.