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Nuclear Power Firm Sees Earnings Climb 15%
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China National Nuclear Corporation (CNNC) said its main business posted 20.3 billion yuan in revenue for 2006, up over 15 percent from 2005.


The company produced 22.68 billion kilowatt-hours of electricity in 2006, said Kang Rixin, the firm's general manager, adding that it has safely operated its first nuclear power plant, Qinshan, for 15 years.


Kang said CNNC is considering listing one of its units on the domestic stock market the Qinshan nuclear power company, which owns phase I of the power plant of the same name.


But he did not disclose the time frame. "We are still doing the preparation work and we have faced some difficulties," he said.


This year another big project under CNNC, the Tianwan nuclear power plant, will begin commercial operation.


The plant, which is located in Lianyungang, Jiangsu Province, is the largest cooperation project between China and Russia.


Construction of the 26.5-billion-yuan plant began in 1999. Both generators feature Russian pressurized-water technology.


"One of the two generators, with an installed capacity of 1,060 megawatts, is expected to go into commercial operation in May this year. And another one, with the same capacity, will go into commercial use at the end of this year," said Kang.


The company has placed great importance on the development of its own technology to build nuclear reactors. The technology, known as the China Nuclear Power 1,000, will be used to build two 1,000-megawatt reactors in Fangjiashan, not far from the Qinshan project in East China's Zhejiang Province.


Kang attributed his company's fast expansion to the rapid development of China's nuclear power industry. The Chinese government is relying on nuclear power to meet the rising energy demands of its booming economy.


Under its 11th Five-Year Plan (2006-10) for economic and social development, the nation's nuclear capacity is to reach 40 gigawatts, accounting for 4 percent of the nation's total capacity.


Last year China and the United States signed an agreement that paves the way for US-based Westinghouse Electric Co to build four nuclear reactors in China.


Under the contract, Westinghouse's technology will be used for four third-generation nuclear reactors two in Sanmen, East China's Zhejiang Province, and another two in Yangjiang, South China's Guangdong Province.


The two reactors in Sanmen are under CNNC. Kang said construction of the reactors is expected to start in 2009.


(China Daily January 23, 2007)


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