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Energy Industry

France Committed to UK Nuclear Project

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April 17, 2016, 12:06 PM ET
Northern Irish Government To Sell Off It's Nuclear Bunker
The ladder leading to the outside world via the decontamination chamber in the nuclear bunker site on the Woodside Road industrial estate on February 4, 2016 in Ballymena, Northern Ireland. The underground shelter has been put up for sale by the offices of the Northern Ireland First and Deputy First Minister. The bunker which was completed in 1990 was built to hold up to 235 people in the event of a nuclear bomb complete with kitchen facilities, dormitories and decontamination chambers. The site, one of approximately 1,600 nuclear monitoring posts built in the UK since 1955 is on the housing market with an asking price of £575,000. (Photo by Charles McQuillan/Getty Images)Photograph by Charles McQuillan — Getty Images

France will go ahead with construction of the Hinkley Point nuclear power plant in Britain, the French economy minister was quoted as saying by the BBC.

Emmanuel Macron was quoted by the BBC as saying the 18-billion-pound ($25.57 billion) project was “very important” for France and state-owned utility company EDF.

“We back Hinkley Point project, it’s very important for France, it’s very important for the nuclear sector and EDF,” Macron told the BBC.

“Now we have to finalise the work, and especially the technical and industrial work, very closely with EDF, with the British government, to be in a situation to sign in the coming week or more.”

Asked whether he thought the deal would go ahead, Macron said: “That’s my view, and that’s our perspective, because I think it’s very important for our commitment to nuclear energy.”

Last week, Macron told unions at EDF that he had not yet decided whether to go ahead with the nuclear plant and has said a final investment decision will be taken by early May.

The project was announced in October 2013 but a final investment decision has been delayed as EDF has struggled to find partners and financing.

Chinese utility CGN signed up for a one-third stake last October, leaving EDF to fund the rest.

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