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U.K. Backs Giant Nuclear Plant, Squeezing Out China


The British government on Tuesday threw its weight behind nuclear power, saying it would back a major new generating plant on the coast of the North Sea northeast of London.The government said it would invest £700 million ($842 million) for a 50 percent stake in Sizewell C. EDF, the French state utility, which will construct the plant, will hold the rest.The deal squeezes out a Chinese state-owned company, China General Nuclear, which had owned 20 percent of the project. CGN received an undisclosed sum for its share, reflecting its value and representing a commercial return on development work to date, the British government said.The deal amounts to another blow to Britain’s once warm business relationship with China. Britain actively courted Chinese …

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