Hitachi's Nuclear Plant Project in Britain May Be Delayed

Economy

Tokyo, Dec. 16 (Jiji Press)--Hitachi Ltd. <6501> may have to delay its final decision planned for 2019 on a nuclear plant construction project in Britain.

By the end of this year, Hitachi hopes to select effectively a company that will acquire an equity stake in a British nuclear business subsidiary that will operate the project. But it is now difficult to secure an investor by the year-end, according to informed sources.

Therefore, a final decision on the project will likely be delayed, which in turn could force a postponement of the start of operations of the plant currently slated for the early 2020.

Through the subsidiary, Hitachi plans to start constructing two reactors on the island of Anglesey as early as 2020.

To reduce management risks associated with the project, Hitachi aims to lower its equity ownership of the subsidiary from the current 100 pct to less than 50 pct.

[Copyright The Jiji Press, Ltd.]

Jiji Press