Michele Kearney's Nuclear Wire

Major News and Commentary Military and Civilian Nuclear Activities

Friday, September 24, 2010

China nuclear firm unveils huge investment plan



Beijing (AFP) Sept 21, 2010 China's main nuclear power company plans to invest nearly 120 billion dollars to expand its business over the next decade, state media said Tuesday, amid efforts to boost renewable energy sources. To fund the 800-billion-yuan spending spree, state-run China National Nuclear Corp (CNNC) intends to list its subsidiary, CNNC Nuclear Power Co Ltd, the China Daily said, citing senior officials from both companies.
"We plan to rope in strategic investors by the end of this year," said Chen Hua, president of CNNC Nuclear Power Co Ltd.
"Our company will get ready for listing in the first half of next year," Chen said, without specifying which stock market it was targeting.
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