Raise cash to expand, BNFL told

British Nuclear Fuels will need private money to realise its ambition of becoming a leading global nuclear clean-up and decommissioning specialist. While the company is cash-rich and has virtually completed its investment at Sellafield, it will need to raise huge sums for decommissioning projects overseas. Private funding will also be required to allow it to […]

British Nuclear Fuels will need private money to realise its ambition of becoming a leading global nuclear clean-up and decommissioning specialist.

While the company is cash-rich and has virtually completed its investment at Sellafield, it will need to raise huge sums for decommissioning projects overseas.

Private funding will also be required to allow it to reduce its dependence on the controversial reprocessing of spent fuel.

Trade and industry secretary Stephen Byers said private funding should be the company’s objective, when he announced last week that the Government would look to sell-off up to 49% of the company in a public-private partnership.

Its contract from the US government to clean up the former military site at Hanford, for example, will require it to build – and finance – a $750m-$1bn vitrification plant.