China and United Kingdom ink historical civil nuclear deal

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LONDON: The announcement came on the second day of Chinese President Xi Jinping 's business themed state visit to Britrain, which Cameron said had seen deals signed worth £ 40 Billion ($ 61.9 billion). The EDF in a statement announced the blockbuster nuclear agreement signed in the presence of Xi and Cameron, as London rolled out the red carpet to Chinese investors and show case joint projects including zero emission classic London red buses and black taxis. The agreement for the gigantic nuclear project, whose construction costs total £ 18 billion is expected to be finalized in the next few weeks. We are signing a historic deal to build the Hinkley nuclear power station. Cameron said at a joint press conference with Xi at Downing street. Xi called it a flagship project of cooperation. The French utility will construct two European Pressurized Reactors, a third generation nuclear reactor design considered the most advanced and safest in the world, at the Hinkley Point C plant in southwestern England. The Hinkley facility will not be operational until 2025- two years later than originally planned when the deal was first unveiled two years ago. The pair also reached agreement on a partnership to develop nuclear power stations on the eastern English cost in Suffolk, and at Bradwell in Essex, southeastern England.

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