SHANGHAI, Sept 30 China General Nuclear Power
Corporation (CGN) expects its plans for a new China-led nuclear
power plant in Britain to win government approval within five
years, the firm's chairman said in comments reported by state
media late on Thursday.
He Yu said his company would start preparing for a plant in
Bradwell-on-Sea in southeast England, after Britain agreed to
build its first new nuclear power station in decades with China
in a $24 billion deal signed earlier in the day.
"CGN is conducting a comprehensive evaluation of the power
system, site conditions, project plan and investment of the
Bradwell B power plant," he said, according to the official
Xinhua news agency.
"We will officially submit our materials for the Generic
Design Assessment (GDA) immediately after the signing of the
contract with French company EDF to gain approval for
He also said that he did not think that the British
government's new security policies concerning foreign investment
in nuclear power plants conflicted with his company's
management, investment and profit-sharing policies.
The future of the Hinkley Point nuclear plant was uncertain
for a while after British Prime Minister Theresa May delayed the
project over concerns about the security implications of Chinese
involvement. The deal was eventually signed behind closed doors,
reflecting her cautious approach to the project.
The plant will now be built in southwest England by France's
EDF with $8 billion of cash from China. It marks the
first project investment by a Chinese nuclear firm in a
In the works for more than a decade, the deal - the first in
a series of new nuclear projects in Britain - is part of a
recovery of the global nuclear power industry following a slump
caused by the 2011 Fukushima disaster in Japan.
(Reporting by Brenda Goh; Editing by Joseph Radford)