nuclear-news

Uncertain future for industry related to nuclear power

Loan to Sheffield Forgemasters being reviewed – minister LONDON, June 3 (Reuters) – A loan granted by Britain’s last government to a steelworks company to help it build a manufacturing facility for the nuclear industry is under review, the new business minister said on Thursday.Vince Cable said the 80-million-pound ($118 million) loan to Sheffield Forgemasters agreed under the Labour government that lost power after a May 6 election was being re-examined, like all other projects agreed after Jan. 1, 2010.

“We inherited a very large number of projects which were agreed in a hurry in the run-up to the last general election,” Cable told parliament during a question and answer session.

“We now have to judge them on the criteria of value for money and affordability, including this one,” he said….. The coalition has said its top priority was to cut the budget deficit, which rose to almost 11 percent of national output in the last fiscal year, and therefore all public spending would be under tight control…… The funds aimed to help the steelworks build a 15,000-tonne press capable of producing components for modern nuclear plants.

UK loan for nuclear parts plant no longer certain | Reuters

June 5, 2010 - Posted by Christina Macpherson | business and costs, UK