Hinkley Project: May unhappy with Chinese investment

LONDON: Theresa May was unhappy with the “gung-ho” approach her predecessor took to Chinese investment in Britain, a former colleague said on Saturday, after the new British prime minister cast into doubt a high-profile Chinese-funded nuclear project. Britain had been due to sign off on Friday on a plan by France’s EDF to build two new reactors at Hinkley Point, with financial backing from China General Nuclear (CGN), in a deal championed by David Cameron as a sign of Britain’s openness to foreign investment. Instead, just hours before the signing ceremony May’s government announced it would review the project again. Britain and EDF first reached a broad commercial agreement on the Hinkley Point project in 2013 while the Chinese involvement was sealed two years later. The about-turn came little more than a month after Britons voted to leave the EU in a referendum.

Published in The Express Tribune, July 31^st, 2016.

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