Hitachi decided to stop the construction of nuclear power plant in the UK

The Japanese company notes that the project was frozen due to a lack of investment and economic inexpediency. Simultaneously with the stop of construction, the assets in the amount of 300 billion yen will be debited from Horizon Nuclear Power Limited - the company that developed the project in North Wales. Loss of the company in the 2018 fiscal year after the write-off of assets is estimated as “extraordinary”. The new nuclear power plant on the Isle of Anglesey in New Wales was supposed to replace the operation of Wilf, which ceased in 2015. Hitachi bought Horizon Nuclear Power in 2012 for $1.1 billion. The parties to the deal expected that the first reactor of the new NPP would start operation in the 2020s. The construction of nuclear power plants is the second such case in the UK. At the current stage of construction, freeze of the project will lead to the loss of jobs for 400 people.

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