Hitachi Chairman Admits U.K. Nuclear Project at Dead End


Tokyo, Dec. 17 (Jiji Press)--Hitachi Ltd. <6501> Chairman Hiroaki Nakanishi admitted Monday that the company's nuclear power plant project in Britain has come to a dead end, suggesting that it could have no choice but to suspend work on the project.

"It's true that the project is in a tough situation," Nakanishi told a press conference, held in his capacity as chairman of the Japan Business Federation, or Keidanren.

He cited difficulties for the project to attract investment from Japan, due to lower profit expectations than for a Chinese-French joint nuclear plant project in Britain, among other reasons.

"We have told the British government that we can't go any further," Nakanishi said.

At a separate news conference on Monday, Chief Cabinet Secretary Yoshihide Suga declined comment on a possible delay in the Hitachi project.

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Jiji Press