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Hitachi to freeze UK nuclear power project - Nikkei

Power News - Published on Mon, 14 Jan 2019

Image Source: Nikkei Asian Review
Reuters reported that Hitachi Ltd has decided to freeze its 3 trillion yen nuclear project in Britain and to post a special loss of about USD 2 billion (1.6 billion pounds) for the year ending in March. Nikkei business daily without citing sources reported that Hitachi is set to vote on the planned suspension at its board meeting next week.

Hitachi’s Horizon Nuclear Power unit has struggled to find investors for its plans to build a new power plant in northern Wales.

Hitachi said the asset value of the plant in Wales was 296 billion yen as of the end of September. The special loss from freezing the project is expected to be 200 billion to 300 billion yen, according to the Nikkei.

Source :

Posted By : Rabi Wangkhem on Mon, 14 Jan 2019
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