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Chinese nuclear company still has a stake in UK’s Hinkley Point C project, and approval to build Bradwell project.

 Following mounting pressure from Washington, the UK decided to ban Huawei
and other vendors it considered to be a high security risk from its 5G
networks in 2020. In November, after months of prevaricating, the
Government blocked the sale of Newport Wafer Fab, the UK’s largest
semiconductor plant, to Chinese-owned Nexperia.

It also bought the Chinese
state-owned power group CGN out of its stake in the Sizewell C nuclear
energy project in Suffolk. Under a long-standing deal, CGN, which the US
placed on an export blacklist back in 2019 after Washington accused it of
stealing American know-how for military purposes, invested in Hinkley Point
C power station in Somerset; then Sizewell C, which has just been given the
green light; and is still technically due to be the lead investor at
Bradwell-on-Sea in Essex where it is hoping to instal its own design of
reactor.

The Chinese company still retains a stake in Hinkley Point and
received formal approval for Bradwell from the UK’s nuclear regulator in
February. But there is growing scepticism at Westminster that the Chinese
will ever be able to build on the site.

 Telegraph 18th Dec 2022

https://www.telegraph.co.uk/business/2022/12/18/how-foreign-states-raided-britains-crown-jewels/

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December 19, 2022 - Posted by | politics international, UK

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