Hitachi halts 3 tril. yen British nuclear project in blow to Abe gov't

Hitachi Ltd. said Thursday it has suspended a 3 trillion yen ($27.5 billion) nuclear plant project in Britain and may abandon it completely unless a new financing scheme is introduced, in a serious blow to the growth strategy of Prime Minister Shinzo Abe's government.Hitachi will book a special loss of 300 billion yen in the year ending in March on the decision to freeze a plan to build two nuclear reactors in Anglesey in Wales, the company said.The British government and local financial institutions agreed to provide 2 trillion yen in loans but Hitachi has failed to find investors to finan…READ FULL ARTICLE