Thursday, July 26, 2007

China Hires France To Help Build Nuclear Plants

Beijing is signing an agreement with Paris to build two third-generation European Pressurized Water Reactors (EPR) nuclear reactors in China A letter of intent is to be signed by French nuclear group Areva, electrical giant EDF and their Chinese partner China Guangdong Nuclear Power Corp (CGNPC). CGNPC, based in the southern province of Guangdong, is the historic partner of Areva and EDF in China. It runs the Daya Bay and Ling Ao power stations, which the French companies helped to construct in the 1980s and 1990s.

It is being reported that the China-France contract is worth up to Euro 6 billion (US$8.25 billion). The cost of the first EPR built by Areva in Finland was estimated to be three billion euros. The two third-generation reactors will boost CGNPC's output by 3,200 megawatts. The deal must be ratified by French and Chinese authorities.

Westinghouse Electric Co -- Areva's main competitor for the supply of nuclear reactors to China signed deals to build four nuclear power plants in China. US, European and Russian suppliers of nuclear power technology have all been competing to get contracts in China, where as many as 32 nuclear plants are expected to be built by 2020. (CHINAdaily)

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