China Guangdong Nuclear Power Co to Launch New Investment in guangzhou
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China Guangdong Nuclear Power Co will invest in the world’s largest nuclear company Areva SA’s mining unit UraMin in return for access to more than half of its output and form a nuclear engineering joint venture with the world’s biggest nuclear-reactor maker.
The Chinese utility and sovereign wealth funds will take 49 percent of UraMin, helping to fund the unit’s development, Paris-based Areva said in an e-mailed statement yesterday. But it did not give financial terms.
The two companies will also create a joint venture that will be 55 percent owned by Chinese interests for nuclear power plants in China and abroad, Areva said in the statement.
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