The British and Chinese governments agreed on Wednesday to
give China a substantial stake in the British nuclear industry, both as an
investor and as a contractor.
The deal involves plans for a nuclear power station called
Hinkley Point C, in southwestern England, already years behind schedule and
well over its original cost estimates. The cost is now projected at £18
billion, and the plant is not expected to open before 2025.
China General Nuclear Power Corporation has agreed to invest
£6 billion and take a 33.5 percent stake in the Hinkley Point project.
The plant is intended to meet around 7 percent of Britain’s
current electricity needs and create thousands of jobs.