THE leader of Gwynedd Council has described the suspension of the Wylfa Newydd project on Anglesey as ‘an enormous blow to the economy of north Wales’.

On Thursday Japanese firm Hitachi announced that it is to suspend construction work on the £20bn nuclear power station at Wylfa, with the loss of 400 jobs.

Hitachi has directed its subsidiary Horizon Nuclear Power to suspend its entire UK nuclear development programme, which includes the development of Wylfa Newydd.

Dolgellau county councillor, Dyfrig Siencyn, who is Gwynedd Council Leader said: “Horizon’s announcement to suspend its Wylfa Newydd project on Anglesey is an enormous blow to the economy of not only Ynys Môn but Gwynedd and north Wales as a whole.

“It has brought into question the hopes of a generation of talented young people who have been looking forward to high value jobs that would secure their future in their own communities. The implications of the loss of this multi-billion pound investment are far reaching not only from the direct jobs affected but for suppliers and contractors across the region.

“Gwynedd Council will co-operate through the north Wales Economic Ambition Board with ministers from Cardiff and Westminster to hopefully rescue the project but also to ensure that the Growth Deal projects of north Wales are implemented successfully.”

The decision to suspend the project was taken at a Hitachi Board meeting.

In a statement, they said: “Hitachi has held detailed discussions with the UK Government over various options about how the UK government might support the project including potential for equity and debt investments. The parties, with the cooperation of the Japanese government, have held discussions in good faith in regard to the financial structure for the project and various conditions for the building and operation of the nuclear power station.

“Unfortunately, despite the best efforts of everyone involved the parties have not been able to reach an agreement to the satisfaction of all concerned. As a result, Hitachi has decided to suspend the project at this time from the viewpoint of its economic rationality as a private enterprise, as it is now clear that further time is needed to develop a financial structure for the Horizon Project and the conditions for building and operating the nuclear power stations.”

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