Arab Today, arab today britain pledges £2bn for nuclear plant
Last Updated : GMT 08:13:49
Arab Today, arab today
Arab Today, arab today

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)
Beijing - AFP

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.

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 Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
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 Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
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