Hitachi Says Pulling Out of Horizon Nuclear Plant Construction in UK

MOSCOW (Sputnik) - Japanese multinational company Hitachi said Wednesday it would end its work on the Horizon nuclear plant project in the United Kingdom, which had been suspended since 2019.

"Hitachi, Ltd. ... today announced that it will end business operations on the nuclear power plant construction project in the United Kingdom ("Horizon Project"), which was suspended in January 2019 (1). Hitachi made this decision given that 20 months have passed since the suspension, and the investment environment has become increasingly severe due to the impact of COVID-19," the company said in a press release.

A handout image released on January 17, 2019 by Horizon shows an artists impression of the new Wylfa nuclear plant in Anglesey, north Wales to be built by Hitachi

© AFP 2023 / -

Hitachi-owned Horizon Nuclear Power was expected to build several reactors in the UK. However, it had some difficulty finding investors for one of the sites. After Hitachi suspended the project, the UK government offered it a support package in exchange for a stake in the project, but this failed to create the necessary incentive.