Hitachi to delay work on Welsh, Gloucs nuclear plants

UK-Japan News January 2019

The Japanese firm said it will suspend work on a multi-billion-pound UK nuclear project because of rising costs, the BBC reported on 17 January. The decision puts thousands of jobs at risk if the £13bn plant at Wylfa Newydd in Anglesey, north Wales, is scrapped. The firm had been in talks with the UK government since June about funding for the project, which was being built by its Horizon subsidiary. The government said it had failed to agree terms with Hitachi. The nuclear industry said it was “disappointing”. Hitachi said it would also suspend work on another site, in Oldbury in Gloucestershire, “until a solution can be found”. About 9,000 workers had been expected to be involved in building the two nuclear reactors, which were due to be operational by the mid-2020s. Hitachi said the decision would cost it an estimated ¥300bn (£2.1bn) as “extraordinary losses”. It said it was suspending the project “from the viewpoint of its economic rationality as a private enterprise”.