Oil report

Hitachi expected to withdraw from UK nuclear project - Angelsey council

LONDON, Sept 15 (Reuters) - Hitachi Ltd is expected to withdraw from the Horizon nuclear project in Wales as early as Wednesday, Anglesey council said on Tuesday.

Hitachi’s UK business Horizon Nuclear Power had failed to find private investors for its plan to build a plant at Wylfa in Anglesey, Wales and froze the project in early 2019.

“I have been informed that Hitachi intends to withdraw from the Wylfa Newydd project,” Anglesey Council leader councillor Llinos Medi said in an email.

“However, I understand that this decision still needs to be ratified tomorrow,” she said.

A spokesman for Horizon said it had no comment.

The project was expected to provide around 6% of Britain’s electricity when built and bring jobs to the region.

“If this decision is confirmed - then it will be a devastating blow to the Anglesey economy,” Medi said.

Earlier in Tokyo, the Mainichi newspaper reported that Hitachi would withdraw from the project.

In a statement, Hitachi said the Mainichi report was not based on information disclosed by the company. “At this time, no formal decision has been made in this regard,” it said.

Reporting By Susanna Twidale. Editing by Jane Merriman