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Hitachi freezes British nuclear project, books $2.8bn hit

TOKYO - Japan’s Hitachi Ltd said on Thursday it has decided to freeze a 3 trillion yen ($28 billion) British nuclear power project and will consequently book a write down of 300 billion yen.

The suspension comes as Hitachi’s Horizon Nuclear Power failed to find private investors for its plans to build a plant in Anglesey, Wales, which promised to provide about 6 percent of Britain’s electricity.

“We’ve made the decision to freeze the project from the economic standpoint as a private company,” Hitachi s | MORE

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