|
China Power Investment Corp may become
the third domestic company to take a controlling stake in a nuclear
project in China, an official said yesterday in Shanghai.
Currently, only China National Nuclear
Corp and Guangdong Nuclear Power Holding Co are authorized to build
nuclear plants. Other power companies can get involved by taking a
minority stake.
"Sooner or later, more firms will be
given the opportunity to own a majority stake in a nuclear project.
The sector is limited right now for security sake," said Shen
Wenquan, CNNC's science and technology committee vice chairman.
Speaking at a local energy forum
yesterday, Shen named China Power as the most likely to be granted
such a right, citing its abundant capital and preparation.
He didn't give a timetable.
China Power is one of the nation's five
major power firms that was created after China split its power
monopoly, State Power Corp, in 2002 amid a nationwide electricity
industry reform.
The Beijing-based company has already
participated in two nuclear plants in Shandong and Liaoning
provinces.
Company sales rose 14 percent to 28.8
billion yuan (US$3.57 billion) in 2004 while profit rose 6 percent
to 1.46 billion yuan.
China has urged the use of nuclear
power amid soaring oil prices and worsening pollution from coal
burning.
It plans to quadruple its nuclear power
generation capacity to 40,000 megawatts by 2020.
To achieve this, the country has to
start construction of two to three 1,000-megawatt-level units per
year.
Their advent also generates business
opportunity for technology firms.
Currently, companies including
Framatome ANP, a venture between France's Areva SA and Germany's
Siemens AG, and Westinghouse Electric Co are bidding for a US$8
billion contract for nuclear reactors at Sanmen, Zhejiang Province,
and Yangjiang, Guangdong Province.
The result of the bidding should have
come out late last year but has been delayed due to a price
disagreement, Shen said, adding he expected the result could come
soon so the construction can start.
| 
