Home Business News Japan’s Toshiba to pull out of UK nuclear power project

Japan’s Toshiba to pull out of UK nuclear power project

by Purvai Dua
8th Nov 18 9:44 am

Toshiba has today confirmed plans to wind up its UK nuclear arm, which was leading a project to develop a new power station in Cumbria.

Unions criticised the government for not intervening to ensure the project went ahead.  GMB union national officer, Justin Bowden, commented: “The British government has blood on its hands as the final sad but predictable nail is banged into the coffin of Toshiba’s jinxed jaunt into nuclear power.

“Relying in this way on foreign companies for our country’s essential energy needs was always irresponsible. Add to that the multiple opportunities to step in and take control, that were missed or ignored.”

Toshiba said its NuGen business would start being wound up in the new year. In a statement from Tokyo, it said: “After considering the additional costs entailed in continuing to operate NuGen, Toshiba recognises that the economically rational decision is to withdraw from the UK nuclear power plant construction project, and has resolved to take steps to wind up NuGen.”

NuGen said the announcement came after 18 months of negotiations with a range of potential new owners.

It is unclear how many jobs were at risk but NuGen said it had retained a team to support the process.

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