April 9 (Bloomberg) -- China National Nuclear Corp., the nation's largest nuclear power plant builder, said it is looking for Canadian acquisitions or partners to help boost uranium reserves and its plans to sell reactors in North America.

The state-owned company is considering options including takeovers and supply agreements that range in value from ``several hundred million dollars to more than a billion,'' Cui Jianchun, general manager of subsidiary CNNC Finance Co., said in an interview in Toronto.

China and Canada agreed in 2005 to jointly develop uranium mines and oil reserves to expand trade between the two countries. China National Nuclear may exchange shares in CNNC Finance with listed Canadian uranium companies to form partnerships that will add to reserves of the fuel and enable the Beijing-based company to sell reactors in the region, Cui said.

``Canada is a large country with proven reserves and our governments have signed a cooperation agreement to make this easier,'' Cui said yesterday. ``China has plans for as many as 30 new nuclear plants between now and 2020, so our need for uranium is great.''

China National Nuclear executives have met counterparts from Saskatoon, Saskatchewan-based Cameco Corp., the world's largest uranium producer. The two companies aren't in ``direct'' talks on an agreement, Cui said, declining to identify any other parties the company is interested in. Cameco spokeswoman Alice Wong wasn't immediately available to comment.

Shenhua, Wuhan Steel

Cui arrived in Canada with executives of Wuhan Iron & Steel Group, China Shenhua Energy Co. and more than 10 other state- owned companies for meetings sponsored by the China Council for the Promotion of International Trade and the Canada China Business Council.

China, the world's largest energy consumer after the U.S., will increase spending on nuclear power plants by 13 percent to 450 billion yuan ($64 billion) during the 15 years ending 2020, the National Development and Reform Commission, the country's top economic planner, said Nov. 2.

China needs to add two reactors a year to meet a target of generating 4 percent of its power from nuclear plants by 2020, from about 2.3 percent now.

The country will be building nuclear reactors elsewhere in the world in 15 or 20 years, Simon Powell, head of power research at CLSA Ltd. in Hong Kong, estimated in November.

To contact the reporter on this story: Rob Delaney in Toronto at robdelaney@bloomberg.net.

Last Updated: April 9, 2008 00:13 EDT