Hitachi shares rise after report it is considering scrapping Britain nuclear project [Reuters]
HITACHI LTD ADR (HTHIY)
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Source: Reuters
Hitachi shares rise after report it is considering scrapping Britain nuclear project | Reuters 1 Min Read TOKYO (Reuters) - Hitachi Ltd ( 6501.T ) shares rose as much as 2.9 percent on Monday after Japan’s TV Asahi reported the firm is considering scrapping its 3 trillion yen ($26.61 billion) nuclear project in Britain due to projections of further increases in construction costs. Hitachi’s Horizon Nuclear Power plans to build over 5 gigawatts of new nuclear capacity at two sites in Britain – the first at Wylfa Newydd in Wales. The project will be discussed at Hitachi’s board meeting on Tuesday, and a conclusion is likely to be made by the end of the business year through March, TV Asahi reported. Giving up the project would incur Hitachi a 270 billion yen loss, it said. A Hitachi spokesman declined to comment on the report when contacted by Reuters. Hitachi shares ended up 1 percent at 3,254 yen, compared with a 2.1 percent decline in the Nikkei share average .N225 . Reporting by H
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