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Ministers plan to buy Sizewell C shares over security concerns about external investment

Ministers may buy shares in Sizewell C nuclear power plant amid concerns about involvement ChinaA nuclear company in a major UK infrastructure project, it appeared last night.

The government has decided whether to buy shares in the project or invite external investment.

The debate was fueled by security concerns about China General Nuclear Power Group’s (CGN) involvement in plans to build a £ 20 billion power plant.

Concerns are also rising about China’s commitment to human rights. Hong Kong Treatment of Uighur ethnic minorities in Xinjiang Uygur Autonomous Region, COVID-19..

Foreign Minister Dominic Raab said last year that Britain was unable to “business as usual” with Beijing.

This follows the decision to force Chinese telecommunications equipment maker Huawei out of the UK’s 5G network. But the move to limit China’s role in nuclear energy could create further tensions.

Ministers may buy shares in Sizewell C nuclear power plant amid concerns about the involvement of Chinese nuclear companies in major UK infrastructure projects.Photo: What the Sizewell C Plant looks like

Financing negotiations at Sizewell’s plant in Suffolk are said to be underway with EDF, a major company involved in the plan, but sources said all options remained at the table. ..

Whitehall sources confirmed yesterday that the government is looking for ways to remove CGN from future nuclear infrastructure projects.

It is understood that the minister is considering buying a stake in Sizewell C or finding an alternative investor.

According to the Financial Times, the minister could also block CGN’s involvement in future projects such as planning a nuclear power plant at Bradwell-on-Sea in Essex.

China’s involvement in the British atomic energy, dates back to an agreement between the time of David Cameron prime minister and China’s Xi Jinping Jintao in 2015. Its structure.

It also agreed to invest in China’s Hinckley Point C nuclear facility under construction in Somerset.

Foreign Minister Dominic Raab said last year that Britain was unable to

Foreign Minister Dominic Raab said last year that Britain was unable to “business as usual” with Beijing.

CGN will also be the lead developer of the proposed Bradwell B plant in Essex and will introduce its own reactor technology.

The design has not yet been approved, but sources told FT that the Chinese plan to build a plant on the coast just 30 miles from London are now non-starters. “There is no possibility in hell that CGN will build Bloodwell,” sources added. [Downing Street] We do not intend to have a Chinese company build a new nuclear power plant. “

Many of the UK’s major allies in the United States and Europe are trying to minimize the involvement of Chinese state-owned enterprises in infrastructure. The United States blacklisted CGN in 2019, claiming it stole US technology for military purposes, and the Trump administration warned Britain of China’s involvement in nuclear power.

According to the FT, as Prime Minister Theresa May was in the “beard” of driving CGN out of Hinckley Point C.

She ordered a review, which reportedly allowed the project to proceed with strict conditions.

A spokesman for the Department for Business, Energy and Industrial Strategy said: “All UK nuclear projects are carried out under strong and independent regulations to meet the strict UK laws, regulations and national security requirements and protect our interests. “

RUTH SUNDERLAND: I finally realized the horrifying ghost of Beijing’s role in the UK Atomic Energy Corporation

Therefore, the government is considering ways to exclude China from future UK nuclear projects.

Beijing should not have been involved in such a delicate industry through the state-owned China General Nuclear Power Group.

Indeed, I’m afraid this apologetic story is just an extreme example of the incredible naivety of our major politicians to the People’s Republic.

From the beginning, it was clear that acknowledging China’s role in the new construction of our nuclear weapons caused a terrifying sight: a totalitarian state could shut down most of Britain’s energy supply.

RUTH SUNDERLAND: From the beginning, it was clear that allowing China's role in the new construction of our nuclear weapons caused horrific ghosts.

RUTH SUNDERLAND: From the beginning, it was clear that allowing China’s role in the new construction of our nuclear weapons caused horrific ghosts.

Britain’s laissez-faire attitude towards foreign takeovers and foreign domination also makes other major industries vulnerable to Chinese domination, potentially jeopardizing our national security and economic stability.

The slow perception of stupidity to open up nuclear energy programs to China is reflected in the deployment of 5G networks. It will be removed from Chinese telecommunications equipment manufacturer Huawei after considerable popularity.

The company whose founder has relationships with the PLA and the Communist Party should never have been allowed to be so deeply integrated into our communications infrastructure.

Elsewhere, Britain’s largest microchip maker, Newport Wafer Fab, will be sold to Chinese company Wingtech unless the government blocks a £ 63m deal.

Newport Wafer Fab has more than 12 UK government research contracts, including a contract to develop chip technology for fighter radar systems. Boris Johnson has asked National Security Adviser Sir Stephen Lovegrove to consider selling, but it has been hopelessly delayed because the Chinese have had a significant stake in it for over two years.

RUTH SUNDERLAND: The slow perception of stupidity to open up nuclear energy programs to China is reflected in the deployment of 5G networks. It will be removed from China by Chinese telecommunications equipment maker Huawei after considerable popularity.

RUTH SUNDERLAND: The slow perception of stupidity to open up nuclear energy programs to China is reflected in the deployment of 5G networks. It will be removed from China by Chinese telecommunications equipment maker Huawei after considerable popularity.

So why do we have such a supine and short-sighted view of China’s desire to acquire our business? It’s a mixture of convenience, greed, and susceptibility to deception.

When the government sold British Steel to Zhenge, China, it easily avoided the large redundancy of the members of the “red wall” during the 2019 elections.

The Chinese administration has brutally cracked down on protests in Hong Kong and has been accused of crimes against humanity in treating Uighurs. Its secrets and sabotage of the origin of Covid-19 also caused deep anxiety.

Still, the government has shown little willingness to intervene until it is pushed by government backbenchers and media campaigns.

This attitude stems from the false belief that free market capitalism is the same as giving predators, opportunities and communists free reins. Other countries don’t behave so recklessly, and we shouldn’t.

Ministers plan to buy Sizewell C shares over security concerns about external investment

Source link Ministers plan to buy Sizewell C shares over security concerns about external investment

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