Hitachi gets cold feet over UK’s $27bn nuclear scheme – News – GCR

The Nikkei Asian Review reports that Hiroaki Nakanishi, the chairman of Hitachi, is to travel to the UK for talks with Prime Minister Theresa May. He hopes to sell at least 50% of his stake to British companies to participate and hopes to reduce its own stake to less than 50%.

If no agreement can be found, Hitachi plans to withdraw from the schemes.

The move follows an internal review by Hitachi into the cost of the Wylfa Newydd project. This found that its construction cost was likely to be $27.5bn, which was judged to be too much risk for Hitachi to manage on its own.

The UK government has held some talks with Hitachi about finding new investors from the UK and Japan to share the risk.

via Hitachi gets cold feet over UK’s $27bn nuclear scheme – News – GCR

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