Chinese companies will be allowed to take stakes in British nuclear projects, British finance minister George Osborne said on Thursday, as Britain pushes ahead with an ambitious target to expand nuclear energy. In a statement during a visit to China, Osborne said the two countries had signed a memorandum of understanding on nuclear cooperation that also includes roles for British companies in China’s nuclear program. “While any initial Chinese stake in a nuclear power project is likely to be a minority stake, over time stakes in subsequent new power stations could be majority stakes,” the statement said.—Reuters
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