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Hitachi UK reactors to get full Japanese loan insurance

Lenders seek guarantees as nuclear projects face post-Fukushima cost overruns

TOKYO -- Japan intends to fully insure bank loans for one of Hitachi's British nuclear plant projects in order to encourage domestic lenders to finance a particularly risky type of infrastructure export that Prime Minister Shinzo Abe's government seeks to promote.

When Abe met with U.K. counterpart Theresa May here Thursday, the two leaders reaffirmed bilateral cooperation on nuclear plant construction. Japan's support will include coverage for two reactors at the proposed Wylfa Newydd nuclear station in Wales -- a rare example of loan insurance for a project in an advanced economy.

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