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Nation's increasing role in global nuclear power

Updated: 2013-11-08 08:14
By Chris Davis ( China Daily)

United Kingdom to allow Chinese companies to purchase stakes in latest $25.9b reactor project

The United Kingdom recently signed a $25.9 billion deal to build a new nuclear power plant at Hinkley Point in the southwestern part of England. The project is a landmark for several reasons. It's the UK's first nuclear power plant in 20 years - the country has nine aging ones - and flies in the face of a trend to retreat from nuclear power led by Germany and Japan following that country's Fukushima disaster in 2011 when an earthquake and tsunami caused meltdowns that are still festering.

The deal is also unique because of its structure: the UK is allowing Chinese companies to buy stakes in the project - China General Nuclear Corp and China National Nuclear Corp will put up a reported 30 percent to 40 percent of the cost, and the French government-owned Electricite de France SA will hold a 45 percent to 50 percent stake.

Nation's increasing role in global nuclear power