Nuclear companies take a step closer to joining forces

China moved one step closer to merging two of its nuclear power developers, as the country drives through consolidation in many of its State-owned enterprises, including the railways, shipping, nonferrous metals, construction materials and steel sectors.

The Shanghai-listed units of China National Nuclear Corp, a holding company for reactor design and technology, and China Nuclear Engineering Corporation Group, a company that focuses on construction, said in regulatory filings on Monday that a strategic reorganization of the two nuclear giants is underway.

The units said the reorganization requires regulatory approval, but does not involve major assets of the listed companies and would not affect normal operations.