Hitachi Ltd. will withdraw its plan to build a $28 billion nuclear power plant in the UK as it is unlikely that the British government will provide additional support.
The project, which consists of building two nuclear reactors on the island of Anglesey, was suspended in January 2019 due to difficulty in securing funds.
The decision is still to be finalized by the company's board.
Hitachi did not rule out the possibility of reviving the project if additional funding support would be provided.
The project's cost increased one and a half times the original estimate to 3 trillion yen due to safety features.
Stalled negotiations with the British government for funding were attributed to the pandemic and the Brexit.
Hitachi's withdrawal is another blow to Japan's efforts to promote infrastructure exports as a key economic growth driver.
Toshiba Corp., another Japanese company, has withdrawn from its US nuclear power business.


Stellantis Sells Free2move Car-Sharing Business to Mutares to Strengthen Core Auto Strategy
Zhongji Innolight Raises $6.8 Billion in Hong Kong IPO as AI Demand Fuels Growth
GSK Unveils $2.52 Billion Cost-Cutting Plan to Accelerate Drug Pipeline
BHP, Port Hedland Unions Fail to Reach Wage Deal as Negotiations Continue
Brown-Forman Rejects Sazerac’s $15 Billion Takeover Bid as Family Backs Independence
CATL Shares Jump as $5.6 Billion Buyback Signals Confidence in Long-Term Growth
X Challenges Australia’s Expanded Social Media Ban Enforcement Powers
Serica Energy to Acquire Pharos Energy for £145.7M, Sending PHARP Shares Soaring
Philips Shares Slide 10% Despite Earnings Beat as Weak Orders Raise Growth Concerns
ASML, Applied Materials Slide as China DUV Chip Equipment Breakthrough Sparks Market Jitters
TeamViewer Shares Fall Despite Profit Growth as ARR and Customer Base Decline
Nvidia Eyes $250B Guarantee for OpenAI’s Massive Ohio AI Data Center Project
Seagate Stock Jumps as AI-Fueled Earnings Beat and Strong FY2027 Outlook Impress Investors
Air Liquide Q2 Sales Growth Tops Forecast as Electronics Business Drives Strong Performance
Unilever Raises 2026 Sales Outlook After Strong Q2 Volume Growth
AstraZeneca Q2 Earnings Beat Forecasts as Oncology Growth Supports 2026 Outlook
Exosens H1 Profit Beats Forecasts as Defense Demand Drives Growth 



