Hitachi deal to deliver nuclear investment programme

2 November 2012

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4 November 2012 | Anna Reynolds

Hitachi has acquired Horizon Nuclear Power from RWE and E.ON in a deal expected to help the UK meet its carbon reduction target and benefit its construction supply chain.

The Japanese technology giant confirmed it will progress with Horizon’s plans to build between two to three new nuclear plants at each of its sites at Wylfa in Anglesey and Oldbury in Gloucestershire, with the first becoming operational in the early 2020s.

About 60 per cent of the value of the first plant will be spent on locally sourced materials. British companies Babcock International and Rolls-Royce have signed Memorandums of Understanding with Hitachi and will help plan and deliver the building programme.

Hitachi has also committed to sourcing a local workforce for the building sites. Construction work at the two sites is expected to lead to 12,000 jobs and there will be 1,000 permanent posts once the plants are operational.

Prime Minister David Cameron backed the takeover. He said: “It will contribute vital new infrastructure to power our economy as well as stimulating exciting new industrial investments in the UK’s nuclear supply chain.”

Hitachi president Hiroaki Nakanishi described the programme as a “100 year commitment to the UK and its vision to achieve an affordable energy supply”. The company has also pledged to invest in training engineers and construction staff for the plants and will work with local colleges and universities to develop training programmes in nuclear skills.

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