CNNC prepares for massive investment

22 September 2010

China National Nuclear Corp (CNNC) plans to invest 800 billion yuan ($120 billion) into nuclear energy projects by 2020, in line with the country's move to accelerate the development of the industry, the China Daily reported. Total investment in nuclear power plants, in which CNNC will hold controlling stakes, will reach 500 billion yuan ($75 billion) by 2015, according to CNNC vice president Sun Youqi. In order to fund the company's expansion target, CNNC plans to list its subsidiary, CNNC Nuclear Power Co Ltd, said Chen Hua, assistant president of CNNC. He noted, "We plan to rope in strategic investors by the end of this year. Our company will get ready for listing in the first half of next year."