Japan to fork out $8.7b for UK nuclear project

The project will cost $24.1b with Hitachi covering 10% of the amount.

Nikkei Asian Review reported that Japan will put together an aid package seen totaling 1 trillion yen ($8.7 billion) for a U.K. nuclear power plant project spearheaded by Hitachi, promoting the country's power technology ahead of an anticipated nuclear boom.

The British government has contracted Hitachi unit Horizon Nuclear Power to build and run two nuclear power reactors at a site on the Welsh coast known as Wylfa Newydd. The project at this point is seen costing around 19 billion pounds ($24.1 billion) in all. It has been proposed that the U.K. pay at least 25% of that, with Hitachi shouldering around 10%.

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