TOKYO -- Japan's Hitachi will take a $2.8 billion hit to profit after it decided on Thursday to freeze its flagship nuclear power project in the U.K.
The Japanese company's board decided to suspend a plan to build two nuclear reactors on the Isle of Anglesey in Wales after failing to reach an agreement with the British government over funding for the 3 trillion yen ($27.5 billion) project. Hitachi was seeking significant financial support from London, having been unable to secure private investments in the project.
