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ECONOMY

GOJ to extend debt guarantees to encourage nuclear plant exports to UK

Mainichi gave top coverage to Hitachi’s plan to build an atomic energy plant in central Britain, noting that the GOJ is expected to offer full debt guarantees to the Japan Bank of International Cooperation, Mizuho Bank, and other major Japanese lenders that have jointly decided to finance almost half of the $27 billion project. The government-affiliated Development Bank of Japan also plans to finance the massive initiative along with the British government, Chubu Electric Power Co., and other Japanese companies. The article explained that the Abe administration is very keen to back this overseas business scheme by actively helping to enlist financial and other support from the Japanese business community with the ultimate goal of maintaining the nation’s nuclear engineering expertise in view of the paramount difficulty in building new nuclear plants at home. In an accompanying piece the paper said the project has already triggered controversy in the UK and expressed concern that Japanese taxpayers will be forced to cover the loss if it is derailed.  

 

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