LON­DON Nu­clear plant deal signed

The Myanmar Times - - Business | International -

THE con­tract for a French-Chi­nese con­sor­tium to build Bri­tain’s first nu­clear plant in a gen­er­a­tion was signed at a low-key cer­e­mony last week, af­ter a string of con­tro­ver­sies threat­ened to scup­per the huge deal.

The British gov­ern­ment had de­layed agree­ment over con­cerns about China’s in­volve­ment, while there were ques­tions about how the Fren­chowned power gi­ant EDF would fund the con­struc­tion of Hink­ley Point.

Bri­tain fi­nally gave the go-ahead ear­lier last month for the £18 bil­lion (US$23 bil­lion) com­plex, which is ex­pected to pro­vide 7 per­cent of the coun­try’s power needs, but it set con­di­tions for the deal.

Bri­tain said EDF can­not cede ma­jor­ity con­trol of the project and wants more scru­tiny over na­tional se­cu­rity con­cerns for fu­ture projects.

China has a one-third stake in the project and an­a­lysts had warned that Bri­tain could have jeop­ar­dised re­la­tions with the world’s sec­ond-largest econ­omy if it scrapped the deal.

Crit­ics said it could give China the power to turn off the lights.

The UK gov­ern­ment has said the plant will cre­ate 26,000 jobs and boost the econ­omy. –

Newspapers in English

Newspapers from Myanmar

© PressReader. All rights reserved.