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Last updated at: (Beijing Time) Wednesday, January 30, 2002

Nuclear Corporation's Revenue Radiant

China National Nuclear Corporation (CNNC), the sole State-owned nuclear energy conglomerate, said its business gathered steam last year, with its deficit falling by 30 per cent, and could even move out of the red within the next 12 months.


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Reduced deficit by US$16.9 million in 2001
China National Nuclear Corporation (CNNC), the sole State-owned nuclear energy conglomerate, said its business gathered steam last year, with its deficit falling by 30 per cent, and could even move out of the red within the next 12 months.

Wang Binhua, vice-general manager of the company, said it reduced the deficit by 140 million yuan (US$16.9 million) last year, and, with government subsidies, the deficit is thought to be less than 100 million yuan (US$12 million).

"Last year's operation is the best in recent years," said Wang, whose company is responsible for the construction of nuclear power plants, and developing nuclear technology for civilian usage.

"We hope we can pull out of red this year with more sales of electricity generated by nuclear power plants," said Wang at Tuesday's press conference.

To launch a new plant
At the conference, Wang Zhaofu, the company's office director, said CNNC is trying to lobbying the government to approve the construction of a 2 million kilowatt nuclear power plant in Sanmen of East China's Zhejiang Province this year.

Wang Zhaofu said the company is prepared for the launch of the US$3 billion plant, close to Qinshan plant, China's first self-designed nuclear plant.

Qinshan plant
"Nuclear power is clean, safe and efficient," Wang Zhaofu said. "The Chinese top leaders have always attached great importance to the development of the industry."

The Chinese Government indicated in its 10th Five-Year Plan (2001-05) it will build more nuclear power plants by 2005, though the exact number was undecided. Wang said the second and third phases of the Qinshan plant, with a combined installed capacity of 1.9 million kilowatts, will generate electricity this year.

The first phase of the Qinshan plant, with a total installed capacity of 300,000 kilowatts, is now one of two nuclear power plants in operation in the country. The other, with a capacity of 900,000 kilowatts, is in Daya Bay in South China's Guangdong Province.

Four projects under construction
Four nuclear power projects, with a total installed capacity of 6.6 million kilowatts, are now under construction in China, encompassing the second and third phase construction of the Qinshan nuclear plant, the Ling'ao plant in South China's Guangdong Province and the Tianwan plant in East China's Jiangsu Province.

Current situation and bright future
"We are inspired to see our business operation take a turn for the better with all the plants under construction expected to begin generating electricity by 2005," said Wang Zhaofu.

He said the electricity generation from Qinshan and Ling'ao alone will reach 30 billion kilowatt hours each year, which is 15 times as powerful as the current generation. Electricity sales are expected to bring 13 billion yuan (US$1.6 billion) in revenue to the company.

Nuclear power represents 1 per cent of the country's total power output, much lower than the 17 per cent average for nuclear power as opposed to conventional power in advanced countries.



China National Nuclear Corporation

The China National Nuclear Corporation (CNNC) is a state-owned conglomerate with sole proprietorship established upon approval of the State Council in 1st July 1999.The CNNC grew out of the former China National Nuclear Corporation (the successor of the former Ministry of Nuclear Industry whose predecessor was the former Second Ministry of Machine-Building Industry). In detail

Visit Website of CNNC

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