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US Firm Reveals Desire to Buy British Nuclear Group

Posted on: Thursday, 11 May 2006, 21:05 CDT

With the UK government poised to give the green light to plans to build a new fleet of nuclear power plants, US company Washington Group International has confirmed its desire to win a mandate for such new projects and to purchase the UK government-owned British Nuclear Group.

To date energy firms from both sides of the Atlantic have been cagey about their interest in building nuclear facilities in the UK because no clear political will has been thrown behind the concept.

However, the government has been conducting a review of Britain's future energy needs and it is widely believed that nuclear power will be part of the future power generation mix.

Now The Guardian newspaper has reported that Washington Group International has become the first US company to show its willingness to get involved.

The US company is reported to be keen to purchase British Nuclear Group, the operating arm of the state-owned BNFL, which could cost up to GBP1 billion. Furthermore, the newspaper states that Washington is interested in playing a part in the building of the proposed new nuclear power plant fleet and in the ongoing clean-up operations at Sellafield and Drigg in Cumbria.

Other major US firms such as Bechtel and Halliburton are believed to be interested in the UK nuclear sector, but as yet have not offered any solid intentions.

Source: Datamonitor

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