A plant producing nuclear fuel for the new generation of reactors is set to be developed at Springfields in Lancashire, safeguarding 1,400 jobs at the site and securing for British industry some of the benefits of the revival of nuclear power.

Westinghouse, the privatised nuclear engineering company now owned by Toshiba of Japan, will say on Thursday that it is in advanced talks with the government’s Nuclear Decommissioning Authority to take a long-term lease on the Springfields nuclear fuel assembly plant.