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Hitachi wants nationalisation of UK nuclear project

Staff Writer |
Economic Times reported that Hitachi's frozen nuclear power project in Britain can only be revived if it is nationalised.

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Hiroaki Nakanishi at the World Economic Forum in Davos was quoted as saying that "Nationalisation is the only path."

But he added that legal changes would be required for the British government to take a majority stake in the business to fill a funding gap left by the private sector.

The chairman said private investors had little appetite to support the power plant after seeing similar projects around the world stall, Nikkei reported.

Hitachi last week froze construction of the Wylfa Newydd plant in Wales owing to financing difficulties.

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