DHAKA: British finance minister George Osborne will sign a deal in China next week allowing a Chinese state-run nuclear power company to help build a new plant in Britain, the Financial Times reported.

The paper, citing unnamed sources familiar with the matter, said on Saturday that Osborne would sign a memorandum of understanding to back the Chinese General Nuclear Power Group (CGNPG) entering a deal with France’s EDF for a planned new nuclear plant at Hinkley Point in southwest England.

The deal would also see Britain back plans for CGNPG to build and help operate a reactor in Britain, while also giving its support to Chinese nuclear technology receiving approval from British regulators, according to the report.

The agreement would also involve CGNPG’s rival state-run nuclear company, China National Nuclear Corp, sources told the paper, reports The Straits Times.

BDST: 1842 HRS, OCT 12, 2013
RoR/SRS