UK eyes £50m for nuclear clean-up firm

Published on Monday 30 March 2009 21:36

A SIGNIFICANT part of the country's nuclear industry was put up for sale yesterday as the UK Atomic Energy Authority (UKAEA) began the search for would-be buyers for its commercial arm.

The authority is looking to sell UKAEA Ltd, its wholly-owned business which oversees nuclear clean-up work at three sites in the UK and offers consultancy work in international markets.

Ministers are hoping to attract healthy interest for the operation ahead of a rapid expansion in nuclear new-build projects in a market worth an estimated 300 billion over 25 years.

Although the government did not put a price on the business, it is understood it is hoping to raise up to 50 million from the sale.

Lord Mandelson, the Secretary of State for Business, said: "As the UK moves towards an era of nuclear new build, this sale will increase efficiency, competition and value for money for the taxpayer in the decommissioning and clean up work of old nuclear power stations."

UKAEA, which employs about 230 staff, is handling clean-up work for the Nuclear Decommissioning Agency at Dounreay in Scotland, Winfrith in Dorset and Harwell in Oxfordshire. It also has offices in Warrington and Cumbria.

It is part of bidding for several projects to build nuclear power stations overseas as a leading adviser on decommissioning.