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Economy

China's nuclear power giants ink $776M contract

(Xinhua)
Updated: 2009-12-23 23:16
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BEIJING: The China Nuclear Engineering Group (CNEG) and the China Guangdong Nuclear Power Holding Corporation (CGNPC) signed on Wednesday a 5.3-billion-yuan (US$776 million) nuclear island installation contract, the biggest of its kind in the country.

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According to the contract, the China Nuclear Industry 23rd Construction Corporation under the CNEG would install six 1,000MW nuclear generator units in Fujian, Guangdong and Guangxi, and two 1,750MW nuclear generator units in Guangdong for the CGNPC.

The signing of a installation contract on such a large scale showed that the country's nuclear power construction had "entered a new stage," said Mu Zhanying, general manager of CNEG.

China now has 11 nuclear reactors, with a total nuclear power installed capacity of 9.08 GW, Pan Ziqiang, director of the Science and Technology Committee of China National Nuclear Corporation, said in November.

The country's nuclear power installed capacity is expected to top 70 Gigawatts (GW) by 2020.