Seeking to increase competitiveness on the international stage, Chinese authorities are considering a plan to merge the China National Nuclear Corporation and the China General Nuclear Power Corporation, an industry consultant said.
The government's State-Owned Assets Supervision and Administration Commission is reviewing a merger plan, said Xu Lianyi, the former government official who also works as a senior consultant for the State Nuclear Power Technology Corporation, which specializes in developing third generation projects, including the Westinghouse AP1000, Reuters reported Thursday.
The merger between China's two largest nuclear industry companies was “inevitable,” Xu said, Reuters reported.
Neither of the companies, nor the SASAC confirmed the report, but Xu also said that SASAC was also considering a merger of the State Nuclear Power Technology Corp. and China Power Investment, one of the country's five largest electricity producers.
CGN subsidiary CGN Power, raised $3.2 billion at its public stock launch in Hong Kong on Wednesday.