January 29, 2019 / 12:40 PM / in 3 months

Hammond says hoping Hitachi might rethink power plant plan

FILE PHOTO: A woman walks her dog on a beach in front of the decommissioned Wylfa nuclear power station on the island of Anglesey, Britain, January 28, 2019. REUTERS/Phil Noble

LONDON (Reuters) - Britain’s Chancellor of the Exchequer Philip Hammond said on Tuesday he hoped that a new financing model could be found for Hitachi to reconsider its decision to freeze a $28 billion (21 billion pounds) nuclear power project in Britain.

“Obviously we are disappointed by the decision of Hitachi to suspend work on the Wylfa project, but we haven’t given up hope,” Hammond told lawmakers in Britain’s parliament.

“They retain the site and we hope that the work that we’re doing on a possible alternative financing model may yet allow the project to go ahead.”

Reporting by Stephen Addison; Writing by William Schomberg

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