Toshiba will invest £200 million in Britain’s nuclear power industry in a deal that will create more than 14,000 jobs in construction in Cumbria, David Cameron and Japanese counterpart Shinzo Abe announced.
The premiers met for talks in Downing Street aimed at bolstering economic links.
Earlier this month, plans for a new nuclear power station were given a boost when Toshiba agreed a £102 million deal to buy a majority stake in a project to build three reactors.
Under the agreement, three AP1000 nuclear reactors built by Westinghouse Electric Company, which is owned by Toshiba, will be constructed at Moorside, near the Sellafield site.
Around 1200 workers are employed at Westinghouse’s Springfields site near Preston – which is where fuel for the new NuGen reactors will be made.
Westinghouse intends to build three AP1000 reactors at the site at Moorside, near Sellafield.
Toshiba’s investment could safeguard around 600 jobs which would otherwise be at risk as the older Advanced Gas-Cooled Reactors close.
Mr Cameron said: “Today, we can announce the huge investment being made by Toshiba and Westinghouse, over £200 million, into the rebuilding of the British nuclear industry, specifically in the north west of our country in a project that could provide as many as 14,000 jobs during the construction phase and thousands of jobs ongoing as well as providing low carbon base-load electricity for Britain.
“This is a symbol of the growing relationship between Britain and Japan.”
Mr Abe is on a tour of Europe that takes in Germany, Portugal, Spain, France and Belgium.