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China's CGN, CNNC Establish Hualong Nuclear Power Joint Venture

  • CGN, CNNC will hold 50% stake each; split board seats equally
  • Hualong International is sole holder of Hualong One technology

China’s two biggest state-owned nuclear power operators announced a joint venture to export the country’s third-generation nuclear power reactors internationally.

A ceremony took place Thursday morning in Beijing at Hualong International Nuclear Power Technology Co.’s new headquarters, China General Nuclear Power Corp. said in an e-mailed statement. The company is an equal joint venture between CGN and China National Nuclear Corp. to develop and export the home-grown Hualong One reactor overseas, it said.