The UK’s nuclear industry will excel thanks to increased government support and a robust industrial strategy.
That’s according to the Minister of State for Trade and Investment, Greg Hands, who said these factors, along with a raft of new trade agreements, will make the UK the leading international partner of choice in the civil nuclear field.
He said: “Our nuclear safeguarding and safety regime will continue to be forward looking and our nuclear research and development expertise will remain pride of place.
“We will do this by seizing the global opportunity out there, harnessing the UK’s world leading capability.”
He suggested in the next 13 years, the overseas market for building new reactors will be worth £930 billion across 30 countries and around £250 billion will be spent on decommissioning old plants – he believes the UK is ideally situated to take advantage of these opportunities.
Mr Hands also expects by 2030, the UK will be sizing a potential export market of £240 billion.
He added even though the UK doesn’t have a nuclear reactor vendor of its own, UK companies possess world class experience in all existing technologies in the sector and even in some emerging fields.
Some argue the future of Britain’s nuclear reactors, decommissioning activities and fuel supplies could be at risk if the UK leaves a European nuclear co-operation body without transitional arrangements.
A 350-tonne machine has been installed at Sellafield to tackle what is said to be one of the most challenging nuclear clean-up jobs.