January 31, 2018 / 9:12 AM / 8 months ago

FACTBOX-China regulator okays state-brokered nuclear deal

    BEIJING, Jan 31 (Reuters) - China's state asset regulator on
Wednesday approved the proposed merger of China Nuclear
Engineering & Construction (CNEC) and China National Nuclear
Corp (CNNC), forming a company with assets worth about $100
billion and a workforce of 150,000.
    The tie-up is the latest state-orchestrated union in the
nation's vast power sector, twinning the country's main nuclear
power engineering and construction firm with its second-largest
producer of nuclear power.
    Here are some details about the two companies based on their
websites and filings:
    
    China National Nuclear Corp (CNNC):
    The company has a total installed capacity of 14.34
gigawatts (GW) of nuclear power from 17 units in coastal
provinces of Zhejiang, Jiangsu, Fujian and Hainan. It has
another 8 nuclear power units that are still under construction.
    It is the second-largest nuclear power producer after China
General Nuclear Power Corp, which has 20 reactor units and 21.47
GW of capacity.
    
 Projects           Technology    No. of   Capacity    Total 
                                  units    per unit    capacity
 Zhejiang Qinshan   CNP300        1        310MW       310MW
 phase I                                               
 Zhejiang Qinshan   CNP600        4        650MW       2,600MW
 phase II                                              
 Zhejiang           CANDU700      2        728MW       1,456MW
 Qinshan phase III                                     
 Zhejiang           CNP100        2        1,089MW     2,178MW
 Fangjiashan                                           
 Jiangsu Tianwan    VVER1000      2        1,060MW     2,120MW
 Fujian Fuqing      M310          4        1,089MW     4,356MW
 Hainan Changjiang  CNP600        2        650MW       1,300MW
    It has a workforce of around 100,000 people.
    It owns three listed units including China National Nuclear
Power Co, CNNC International and SUFA
Technology Industry Co.
    CNNC has either built or agreed to build nuclear energy
projects in Pakistan, Brazil, Saudi Arabia and Argentina.  

    Apart from nuclear energy, CNNC also engages in uranium
product trading and solar and wind power generation.
    In the first half of 2017, CNNC had total assets of 497.76
billion yuan ($79.06 billion).    

    China Nuclear Engineering & Construction (CNEC):
    State-owned CNEC is China's top builder of nuclear power
plants and the only eligible installer of equipment in the
nuclear island (NI), which is the core part of a nuclear power
unit that generates steam from nuclear fission.
    The company had total assets of 123.8 billion yuan ($19.7
billion) in 2016, with income standing at 46.37 billion yuan
($7.36 billion).
    With a workforce of 41,348, CNEC has built 11 nuclear energy
plants in China and overseas, including Chashma nuclear power
plants and Karachi nuclear power plants in Pakistan.       
  
    ($1 = 6.2962 Chinese yuan)

 (Reporting by Muyu Xu and Josephine Mason; additional reporting
by David Stanway, Editing by Sherry Jacob-Phillips)
  
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