Oct 30th 2012
Hitachi acquires Horizon nuclear venture
Japanese engineering company Hitachi confirmed it had agreed to purchase the Horizon nuclear power venture for £696mn on Tuesday 30 October. Two Big Six energy companies decided to sell off the project in early 2012 and have been seeking new backers since. Hitachi confirmed it would progress plans to build two or three nuclear reactors at each of Horizon's sites at Wylfa in Anglesey and Oldbury in Gloucestershire. Describing the project as the beginning of a "100-year commitment" to the UK, Hitachi said it anticipated the creation of between 5,000 and 6,000 jobs at each site during the construction phase. Its preliminary estimates indicated approximately 60% of the value of the first plant would be sourced from within the UK.
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