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Japanese and British taxpayers at risk as their governments commit to $20 billion loan for Wylfa nuclear project

Asahi Shimbin 11th Jan 2018, Japan and Britain have agreed to provide the lion’s share of financing for
a nuclear power plant project planned by Hitachi Ltd. on the island of
Anglesey off northwest Wales, sources said.
The two governments are set to extend a combined 2.2 trillion yen ($20 billion) in loans with the help of
financial institutions and acquire a stake in Horizon Nuclear Power Ltd., a
British company purchased by Hitachi to operate the plant. The total cost
of the project is estimated at 3 trillion yen.
It is extremely rare forgovernments to shoulder such a huge portion of the overall project cost. By
doing so, they must share the risk if the project suffers a financial loss,
but that tab could eventually be passed on to taxpayers.

January 13, 2018 - Posted by | business and costs, Japan, politics, UK

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