A Japan-led consortium has cancelled plans to build a nuclear power plant in Turkey citing rising costs and failure to agree revised financing terms with the government. Mitsubishi Heavy Industries and its partners have pulled out of the project after construction costs rose to 5 trillion yen ($44 billion), about double original projections, Nikkei Asia Review reported on Tuesday, citing sources it didn’t identify. The project, agreed with the Turkish government in 2013, was due to start production in 2023, the centernary of the Turkish republic, and projected to have a final capacity of 4,480MW by 2028. A consortium of Japanese and French firms were to build and operate the four reactors in Sinop on Turkey’s Black Sea coast.
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