Hitachi Seeking ¥3 Trillion Aid for UK Nuclear Project (News)
Tokyo, Jan. 11 (Jiji Press)—Hitachi Ltd. is in talks with parties including a Japanese government-affiliated lender and three Japanese megabanks about receiving some ¥3 trillion in total in investment and loans for its plan to build new nuclear power reactors in Britain, it was learned Thursday.
According to informed sources, the government-affiliated Japan Bank for International Cooperation and the megabanks will extend loans to Britain's Horizon Nuclear Power Ltd., which became a subsidiary of Hitachi in 2012.
Hitachi also aims to receive loans from the British side for the fully owned unit that builds nuclear plants, the sources said.
Nippon Export and Investment Insurance, which is wholly owned by the Japanese government, may provide guarantees for all of the loans to be extended by the Japanese side, the sources said.
The government-affiliated Development Bank of Japan may invest in Horizon. Hitachi plans to seek investment in the British subsidiary from major Japanese power suppliers as well, the sources said.[Copyright The Jiji Press, Ltd.]