Hi Tech Industry?...Thought it belonged to the second world war

The Government has decided to lend money to produce the vessels for the reactors that are being proposed for the new nuclear reactors proposed for the UK which are steeped in 1950s technology----This is the way we are going!

It is good that a lot of Eastern Countries are researching into better photovoltaic and wind solutions


The government's much-vaunted "low-carbon industrial strategy" is set to receive a boost on Wednesday with the announcement of a long-awaited £170m funding package for the British nuclear manufacturer, Sheffield Forgemasters.


The company, which has been in funding negotiations for more than six months, has secured the last remaining £20m from bank loans, the Guardian has learnt.

It means Sheffield Forgemasters will be able to build a 15,000-tonne press to make large forgings used in modern reactors being built in the UK and overseas.

The business secretary, Lord Mandelson, and the energy secretary, Ed Miliband, will travel to Sheffield, along with the business minister, Pat McFadden, to make the announcement on Wednesday.

Boosting the hi-tech industrial economy in the UK will become a key political battleground in the run-up to the general election after the credit crunch exposed the dangers of becoming over-reliant on financial services. Official data recently showed that in its first decade in power Labour had allowed the manufacturing sector to shrink at a quicker rate than under Margaret Thatcher in the 1980s.

In response, Mandelson, who has been heavily involved in the complex negotiations, has been championing a new policy of "industrial activism". Ministers say that without more government support for industry, the tens of billions of pounds of new reactors and wind turbines planned to reduce carbon emissions would have to be imported. British manufacturers and workers would miss out.

To secure the funding, the government has pledged £65m in soft loans, with £35m from the European Investment Bank. The nuclear reactor firm Westinghouse is paying £50m upfront for its orders.

The deal also provides a much-needed boost to the north-east, where traditional manufacturers such as Corus have been hammered by the recession and which has one of the highest UK jobless rates. Mandelson wants to create a hub of low-carbon manufacturers in the region with ties to Sheffield University. He recently opened a new £25m research facility in Rotherham for Britain's civil nuclear industry where Sheffield Forgemasters can work with other UK firms in the supply chain.

Dougie Rooney, of the Unite union, said: "The only hope for the nation in terms of being able to pay off its debts is for the UK's engineering industry to become a global supply-chain player supplying components and equipment for new energy projects."

The Sheffield firm is one of only a few around the world that can make the special forgings for reactors. There is increasing political pressure on nuclear companies to source as many components as possible from the UK. The deal will create 150 jobs directly, but thousands more could be created in the wider nuclear supply chain as a result, according to Unite.



Sheffield Forgemasters, whose origins go back to the 1750s, became notorious in the 1990s after becoming embroiled in the "Supergun affair" over arms sales to Iraq.