Hitachi Stops Construction Of Nuclear Reactors In Wales, UK

LONDON – The Japanese industrialized titan Hitachi revealed today the suspension of plans with regard to the building of nuclear reactors in whales, given the problem of financing.

The group stated the need of 300 billion yen (2.4 billion euros), taking into consideration the preparatory work currently commenced with regard to this venture, pointed out Wylfa Newydd.

Hitachi sped up the decision due to the fact that maintaining the task would create a regular monthly cost of tens of millions of euros.

During 2012, the Japanese obtained German energy corporation E.ON and even RWE to construct a pair of reactors and even started discussions with London, Tokyo, and various other attainable partners in order to secure an acceptable financing deal, basing on an announcement coming from the firm.

Concluding that it will take even more time to locate any remedy, these experts have today chosen to suspend the project.

The British have consented to fund two-thirds of the work, worth 24 million euros, stati9ng that the remaining funding will be the obligation of the Japanese state and also Japanese firms.

Despite the fact that Tokyo agreed to move ahead in the past, however today, the companies linked to this project were really hesitant and even Hitachi did not wish to take the risk by itself, while Britain declined to raise its own share regarding the billing. So, the negotiations continue. However, until a settlement can be reached, the entire project is on hold.

Show More

Chris Wick

Chris Wick is Chief Editor with over 17 years experience on the Information Highway, Chris loves to contribute to this website as well as numerous others with ALL types of interesting subjects from Politics, Sports, Cooking to Conspiracy Theory, as you can see, he can't sit still in one place... Oh, and he loves coffee!

Related Articles