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UK’s Moorside nuclear power project on the brink of being abandonment?

Times 8th Sept 2018 , Plans for a new nuclear power station in Cumbria are set to move closer to
collapse next week, with the company developing the Moorside project
expected to confirm that it is laying off the majority of its staff.
Nugen, owned by Toshiba, the troubled Japanese conglomerate, has been consulting
throughout August on job cuts among its 100 employees after failing to
secure a buyer.  It is understood that it is preparing to sign off on cuts
on Monday and to brief staff on Tuesday, with the most likely option
resulting in the loss of at least 50 jobs.
If no buyer for Nugen is found
before the end this year then the venture is likely to be abandoned
altogether. Nugen’s Moorside scheme, neighbouring the Sellafield atomic
waste site on the Cumbrian coast, has been in doubt since early last year,
when financial problems engulfed Toshiba. A sale to Kepco, the South Korean
utility, has stalled amid political change in South Korea and a British
government rethink of the financial support on offer for nuclear plants,
after widespread criticism of the high costs of Hinkley Point.


September 10, 2018 - Posted by | business and costs, UK

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