Two Chinese nuclear power firms are preparing to invite foreign companies to bid for contracts worth billions of US dollars to design and build four new nuclear power generators in Zhejiang and Guangdong provinces.
The firms, China National Nuclear Corp (CNNC) and the Guangdong Nuclear Power Group, will open the bidding to major international players such as Framatome, Alstom, Electricite de France and Westinghouse with construction of the four 1,000-megawatt generators expected to begin before 2005.
China has imported eight of its 11 existing nuclear power generators from France, Canada and Russia. The Qinshan plant in Zhejiang province is the only one that is installed with Chinese nuclear power generators. Sinopec increases exploration Sinopec, China's second-largest oil producer and Asia's largest oil refiner, announced it would increase spending on oil and gas exploration to offset lower oil prices expected next year. The company increased its exploration and production budget for 2004 by RMB 1.87 billion, bringing the total to RMB 19.87 billion.
After a good year of exploration this year, it estimated its newly added possible oil reserves could rise by 50 million tons to 250 million tons, while newly added possible gas reserves were expected to increase by two billion cubic meters to 57 billion cubic meters.