Published: August 26, 2015
China’s financial turmoil could cause new Hinkley Point C delays
Further delays to the £24.5bn project to build Hinkey Point C near Burnham-On-Sea have been predicted this week amid the continuing financial turmoil in China.
More delays are being forecast for Hinkley Point C, which originally expected to be generating electricity by Christmas 2017.
Recent national media reports had suggested David Cameron and China’s President, Xi Jinping, would sign a multi-billion pound deal to signify that a ‘Final Investment Decision’ could be made on Hinkley Point C, with the Chinese expected to fund two thirds of the scheme – however the current financial turmoil could place doubt on that.
The Construction Products Association (CPA) is predicting that the start of the main works on the nuclear site will be delayed until 2018.
Stop Hinkley spokesperson Roy Pumfrey told Burnham-On-Sea.com on Tuesday (August 25th): “With the Chinese stock market in turmoil it is hardly surprising that the construction industry is predicting yet more delays to this £24.5 billion project.”
“But we think the Construction Products Association is being overly optimistic. By 2018 the renewable industry will have had another two or three years of falling costs and innovation, whereas nuclear costs just keep rising and technical problems mount up.”
“Somerset should kick EDF out now so that we can get on with building the sustainable industries we need to tackle climate change, capture the jobs required and transform our energy and transport system into one over which communities have more control.”
