China General Nuclear Power Group reaffirmed its commitment to buy from UK supply chain companies to build nuclear power plants in the UK and across countries covered by the Belt and Road Initiative ahead of Prime Minister Theresa May’s China visit. “As Chinese indigenous nuclear technology develops a global footprint, Chinese and British supply chain companies have abundant opportunities to collaborate in the UK and other markets, utilizing their respective strengths to achieve win-win partnerships,” CGN chairman He Yu said. With CGN’s support, Chinese and British nuclear supply chain companies have already signed preliminary agreements across fields such as civil construction, installation, digital controls, instrumentation and radiation monitoring. CGN’s signature nuclear technology, HPR1000, is currently under General Design Assessment review by the British regulator. Once approved, CGN will use it at Britain’s Bradwell B nuclear power station and markets around the world, especially within the Belt and Road region.
ECNS 31st Jan 2018 read more »
The Chinese firm part-financing Hinkley Point C (HPC) has voiced support for UK nuclear supply chains as prime minister Theresa May arrives in China. The chair of the state-owned China General Nuclear Corporation (CGN), He Yu, said the development of Chinese nuclear technology created opportunities for UK suppliers both at home and in foreign markets. “As Chinese indigenous nuclear technology develops a global footprint, Chinese and British supply chain companies have abundant opportunities to collaborate in the UK and other markets, utilising their respective strengths to achieve win-win partnerships,” he said, according to the state-owned China Daily.
Supply Management 31st Jan 2018 read more »
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. The deal has been in works for almost a year as Beijing has pushed to streamline its bloated state-owned enterprise (SOE) sector, tackle rising corporate debt and make businesses more profitable through mergers, reductions in excess capacity and the closure of “zombie” firms. 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.
Reuters 31st Jan 2018 read more »