State-owned China General Nuclear Power Corp (CGN) has announced plans to expand its overseas business.
By 2020, the firm aims to make a minimum of 15 per cent of its revenue from foreign projects through investment in and engineering for new nuclear plants, exporting its reactor technology, uranium mining and trading, and non-nuclear power projects. In 2014, overseas projects accounted for around 10 per cent of CGN’s income.
Yang Maochun, CGN’s deputy general manager of international nuclear power business development, was quoted as saying that his firm is “still at a startup stage in the overseas nuclear business” but hopes to “ramp up its contribution”.
Yang told the South China Morning Post newspaper that CGN is looking into nuclear project opportunities in 13 countries in Southeast Asia, Eastern Europe and Africa.
He said the company’s strategy had evolved from promoting itself as a subcontractor on overseas nuclear projects to taking on larger parts of such projects, as well as profiting from its innovations to imported nuclear technology.