nuclear-news

China reorganising its nuclear companies in order to export nuclear technology

China goes nuclear with latest state-brokered power deal, Josephine Mason, David Stanway
BEIJING (Reuters) 2 Feb 18, – China National Nuclear Corp (CNNC), China’s No. 2 nuclear power producer, will take over the country’s top nuclear power plant builder to create a company worth almost $100 billion, the latest state-orchestrated marriage in the nation’s vast power sector. 

Approval for the tie-up between CNNC and China Nuclear Engineering & Construction (CNEC) was announced by the State-Owned Assets Supervision and Administration Commission (SASAC) on Wednesday in a one-line statement posted on its website…….

Beijing wants to overhaul its nuclear sector in order to create globally competitive firms and reduce overcapacity across its broader power market. The nuclear industry is struggling with project delays and a slowdown in approvals for new domestic projects.

By creating a unified home-brand series of reactors, and combining firms, China will be better positioned to bid for and finance overseas projects, experts say.

Both companies have built nuclear plants overseas, including in Pakistan, and developing Chinese nuclear technology abroad is a key goal of China’s Belt and Road initiative…… https://www.reuters.com/article/us-china-power-nuclear/china-goes-nuclear-with-latest-state-brokered-power-deal-idUSKBN1FK0S4

February 3, 2018 - Posted by Christina Macpherson | business and costs, China, marketing