December 17, 2018 / 8:50 AM / 6 months ago

Hitachi has not given up yet on UK nuclear project - exec

A logo of Hitachi Ltd. is seen at a news conference in Tokyo October 30, 2012. REUTERS/Toru Hanai/Files

TOKYO (Reuters) - Hitachi Ltd has not given up yet on its nuclear project in Britain, a senior executive said on Monday, denying recent media reports that it was considering scrapping the 3 trillion yen ($26.61 billion) project.

“Britain and Japan are both making efforts,” Executive Vice President and Executive Officer Toshikazu Nishino said at a briefing on Hitachi’s acquisition of ABB’s power grid business.

“It’s not an easy negotiation, but we haven’t given up and are still working on it,” he said.

The comments come after Japan’s TV Asahi reported the firm is considering scrapping the project in Britain due to projections of further increases in construction costs.

Reporting by Makiko Yamazaki; Editing by Muralikumar Anantharaman

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