Reuters - The Japanese
government and a Hitachi Ltd (6501.T)
unit will compile a package worth around 1 trillion yen ($8.5 billion) for a UK
nuclear power plant
project, a government official involved in the project said
on Thursday.
The Japan Bank for
International Cooperation and the Development Bank of Japan will provide
financing for the project, the official told Reuters.
The funding plans
are a boost for the project, one of several new nuclear plants planned in the
UK, which is aiming to replacing its ageing fleet of atomic reactors.
Hitachi's Horizon
unit plans to construct at least 5.4 gigawatts of new nuclear capacity across
two sites in Britain.
The funds will be
provided for the first plant planned at Wylfa Newydd in Wales.
The Nikkei newspaper
said Hitachi would invest about 10 percent of the expected 19 billion pounds
($24 billion) cost of the project. A Hitachi official declined to comment,
saying the amount has not been announced.
($1 = 117.2600 yen)
($1 = 0.7971 pounds)
(This version of the
story has been refiled to correct headline and add 'billion')
Reuters
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