State-owned nuclear power firms announce merger

Government-owned State Nuclear Power Technology and China Power Investment Corp have announced they will merge to form the State Power Investment Corporation, which is expected to own assets of more than RMB700 billion (US$112.6 billion) and generate annual revenue of more than RMB200 billion, Reuters reported, citing state media. China Power currently controls around one tenth of China’s nuclear energy market, while State Nuclear was created in 2007 to handle nuclear technology being transferred from US-based Westinghouse Electric. Authorities are also considering a merger between the sector’s other giants, China National Nuclear Power and China General Nuclear Power.