7 months ago
33
ARTICLE AD BOX
Mariam Issimdar
BBC News, Suffolk
Sizewell C
The government has said it will invest £14.2bn into the Sizewell C nuclear power plant
The government has announced it will become the main shareholder in the new Sizewell C nuclear plant.
It has confirmed taxpayers will take a 44.9% stake in the project which will also be funded by four other companies; EDF, Centrica, La Caisse and Amber Infrastructure.
Downing Street had already committed £14.2bn of investment to build the new Sizewell C nuclear plant on the Suffolk coastline, ahead of the Spending Review.
The cost of the project, revealed on Tuesday, is now £38bn - the last official figure was for £20bn.
Alison Downes, director of pressure group Stop Sizewell C, said previously ministers had not "come clean" about Sizewell C's cost, because "negotiations with private investors are incomplete".
Sizewell C is expected to create 10,000 direct jobs, thousands more in firms supplying the plant and generate enough energy to power six million homes, the Treasury said.
Jamie Niblock/BBC
Large areas of land have already been cleared in preparation for the building of Sizewell C
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