Arab Today, arab today britain pledges £2bn for nuclear plant
Last Updated : GMT 15:22:46
Arab Today, arab today
Arab Today, arab today

First such power station in decades

Britain pledges £2bn for nuclear plant

Arab Today, arab today

Arab Today, arab today Britain pledges £2bn for nuclear plant

China's Vice President Ma Kai (3rd R), Britain's Chancellor George Osborne (3rd L)
Beijing - Arab Today

Britain pledged £2 billion on Monday for a nuclear plant set to be built in England by a consortium, including Chinese firms, which would be the country's first such new power station in decades.

Chancellor of the Exchequer George Osborne announced the funding during a visit to China, saying the Hinkley Point plant was necessary to meet Britain's energy needs as older coal and nuclear plants are retired.

A consortium led by French energy company EDF is expected to make a final decision this year on whether to invest in the plant, but the firm's chief executive welcomed the funding pledge.

"The Chancellor's approval of the infrastructure guarantee is a clear sign of the Government's commitment to Hinkley Point C," Vincent de Rivas was quoted as saying in a statement from the British Treasury.

EDF is the lead contractor in the consortium, which also includes state-run Chinese firms China General Nuclear Corporation and China National Nuclear Corporation.

The Chinese companies are expected to largely finance and get a stake of around 40 percent in the project, which will have two new reactors that authorities hope will generate seven percent of Britain's electricity.

The announcement came during a five-day trip by Osborne during which he is pushing for closer trade ties with the world's second-largest economy, even as global concerns deepen about its health.

"We very much welcome Chinese investment not just in that project but the potential for majority Chinese investment in future nuclear projects in the United Kingdom," he told reporters.

The final decision on investment in the plant could come during a visit to Britain by Chinese President Xi Jinping next month.

The Austrian government has filed a legal complaint to the European Court of Justice against state subsidies for the Hinkley Point nuclear plant, on the grounds they distort the market.

Seen as a major boost to the nuclear industry four years after the disaster at Japan's Fukushima plant, some environmentalists see Hinkley Point as an unnecessary support for nuclear energy just as renewable energy technologies begin to take hold.
Source: AFP

    

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today britain pledges £2bn for nuclear plant Arab Today, arab today britain pledges £2bn for nuclear plant

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 10:01 2017 Tuesday ,21 February

Egypt pound rebounds from flotation slide

GMT 09:57 2017 Tuesday ,21 February

Greece agrees to bailout reforms compromise

GMT 09:55 2017 Monday ,20 February

Thailand 2016 growth up but below junta target

GMT 09:29 2017 Monday ,20 February

Kraft Heinz withdraws bid for Unilever

GMT 09:22 2017 Monday ,20 February

China's huge debt poses big headache for central bank

GMT 18:23 2017 Sunday ,19 February

Darwesh vows to provide job opportunities for youth

GMT 12:10 2017 Sunday ,19 February

Welcomes the F&B solution of the future
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday