22 Dec (NucNet): A new joint venture company is to be responsible for the engineering and development of new nuclear power plants to be built in China by France’s Areva group and the China Guangdong Nuclear Power Corporation (CGNPC).
Areva said yesterday that both companies will create ‘WECAN’, under the terms of an agreement being signed during a visit to China by French prime minister François Fillon, CGNPC chairman Qian Zhimin and Areva’s chief executive officer Anne Lauvergeon. Mr Fillon’s three-day visit ends today.
A deal paving the way for the new joint venture was reached last year. CGNPC will have a 55 percent stake in WECAN and Areva the remainder.
WECAN will be based in Shenzhen and become operational in 2010 with a workforce of some 2,000. The company will be responsible for the engineering and procurement of second and third generation nuclear plants such as the Chinese-type pressurised water reactor (CPR1000) and the European pressurised water reactor (EPR).
Areva said both sides will also sign an agreement under which WECAN may possibly provide nuclear island engineering and procurement services outside China.
>>Related reports in the NucNet database (available to subscribers)
China Contract Goes To French-Chinese Joint Venture (News No. 215, 20 September 2007)
France-China Agree On Joint Venture Company For Future N-Plant Projects (News in Brief No. 120, 8 October 2008)
