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Lithuania Wins on Germany’s Nuclear Exit With Hitachi Offer

Lithuania may have won an “attractive proposal” from Hitachi Ltd. to build a nuclear power plant because of Germany’s decision to give up atomic energy, said DnB Nord Bank economist Jekaterina Rojaka.

The government picked Hitachi Ltd. together with its Hitachi-GE Nuclear Energy Ltd., a joint venture with General Electric Co., yesterday for what is expected to be the biggest investment project in the Baltic region in two decades. Lithuania is seeking to cut its dependence on energy imports after closing the Soviet-era Ignalina nuclear facility at the end of 2009 as part of its agreement to join the European Union.