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Higher offer from UK keeps Hitachi at table for nuclear project

Japanese conglomerate seeks to reduce disaster liability

A concept rendering of the nuclear power plant project in Wales where Hitachi has received the order. (Courtesy of Hitachi)

TOKYO -- Hitachi has agreed to continue negotiations with the U.K. on a planned nuclear power plant in Wales after the government in London expanded financial support to ease the Japanese group's concerns about its hefty price tag.

The Tokyo-based conglomerate's board voted Monday to move ahead with talks at the urging of Chairman Hiroaki Nakanishi. The U.K. has offered to lend Hitachi over 2 trillion yen ($18.2 billion) to build a two-reactor power plant on the island of Anglesey in Wales. Hitachi aims to conclude a memorandum of understanding on the project as soon as mid-June.

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