CGN Power to Form JV for Nuclear Power Project

MT Newswires Live

Sep 24

CGN Power (HKG:1816, SHE:003816) agreed to form a joint venture with six other parties including Ming Yang Smart Energy (SHA:601615) and Zhejiang Jiuli Hi-tech Metals (SHE:002318).

The JV company, Yueshan Nuclear Power, will carry out the development, construction, and operation of the Lufeng Unit 3 and Unit 4 nuclear power project, a Thursday bourse filing showed.

The initial registered capital of the JV will be 100 million yuan, of which CGN Power will contribute 70 million yuan in cash and hold 70% interest.

The investment is expected to further boost the company's installed capacity of nuclear power generating units under construction, in turn enhancing its industry competitiveness.

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