• Business

    Hitachi Set to Exit U.K. Nuclear Power Project, Reports Say

    (Bloomberg) — Hitachi Ltd. is poised to withdraw from a proposed U.K. nuclear power plant, according to Japan’s Mainichi newspaper, the latest blow to the troubled project and the nation’s effort to replace its aging atomic fleet. Hitachi’s board will decide as soon as Wednesday to exit the Wylfa nuclear power project in Wales, Mainichi reported, citing an unidentified person. Work was suspended on the 20 billion-pound ($26 billion) project in January 2019 after failing to reach a financing agreement with the U.K. government and the Japanese firm recently concluded it was impossible to restart work, according to Mainichi. A Tokyo-based spokesman for Hitachi said Tuesday that the company is…

    Comments Off on Hitachi Set to Exit U.K. Nuclear Power Project, Reports Say