nuclear-news

“Nationalization is the only path” to resuming the project, he told reporters on the sidelines of the World Economic Forum’s annual meeting. Nakanishi said that a scheme under which the company would not be saddled with massive assets is necessary for construction to begin.

For the government to take a majority stake in the business to fill the funding gap left by the private sector, however, legal changes are needed, he said. This clouds the prospect of the project being revived as the tumult of Brexit leaves Theresa May’s government with little political capital to push for such a change.

he added that the investor community had lost the appetite to support the project, after watching other similar nuclear projects around the world stall.

The Japanese company said last Thursday that is was freezing the nuclear project under British subsidiary Horizon Nuclear Power. It also announced an impairment loss and related expenses of around 300 billion yen ($2.74 billion) for fiscal 2018 group earnings…….https://asia.nikkei.com/Business/Companies/Hitachi-chairman-Nationalization-only-way-to-rescue-UK-nuclear-project