26 Nov (NucNet): A joint venture is being set up in China as plans move ahead to build six Westinghouse AP1000 nuclear reactors at a new nuclear site in the northeast of the country, one of the companies involved in the project said.
Hebei Construction Energy Investment Company said it will be investing in a joint venture company to be known as CNNC Huadian Hebei Nuclear Power Company.
Other confirmed shareholders are China National Nuclear Power Company and Huadian Power International. The joint venture’s registered capital is 10 million Chinese yuan renminbi (CNY) (about $1.6 million, €1.3 million), of which China National Nuclear Power Company is investing CNY 5.1 million for a stake of 51 percent.
The joint venture is planning to build the reactors at a site near the city of Cangzhou in the province of Hebei. The Hebei Cangzhou government confirmed the plans in September 2014.
However, Westinghouse has not confirmed the proposals or released any information about the project.
Construction of the first two reactor units in the first phase of the project could begin in 2016 with commercial operation in 2020, the local government said.
CNNC Huadian Hebei Nuclear Power Company said total investment in the project will be in the region of CNY 100 billion with CNY 8.4 billion invested in phase one.
Jionto Energy Investment, which has interests in energy generation, banking, restaurants and retail, will invest CNY 844 million in the project.
