Britain to guarantee Chinese investment in new nuclear plant

September 21, 2015 10:28 AM

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LONDON — The British government says it will underwrite 2 billion pounds ($3.1 billion) in Chinese financing for a new nuclear power plant in southwest England, as it encourages major Chinese investment in Britain’s nuclear sector.

Treasury chief George Osborne, who is on a trip to China, says Britain will underwrite China’s stake in the Hinckley Point power station. He says the deal “opens the door to majority Chinese ownership of a subsequent nuclear project” planned for England’s southeast.

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