Hinkley Point contract to be signed Thursday: source

[PARIS] The contract to build Britain's first nuclear power plant in a generation will be signed Thursday in London, a source familiar with the deal said.

The scheduling of the signing follows the approval late Tuesday by the board of French energy company EDF of the new conditions set by the British government for the project to go forward.

London on Sept 15 gave the green light for the construction of the £18 billion (S$24.49 billion) complex, but set the condition that EDF pledge not to cede majority control of the project.

Britain's Prime Minister Theresa May caused shockwaves in July by ordering a review of the deal on security concerns given the involvement of Beijing's state-run China General Nuclear Corporation (CGN).

EDF, which is majority-owned by the French state, is to finance 66.5 per cent of the construction of Hinkley Point and CGN 33.5 per cent.

AFP