China Nuclear Technology Investment, Shenhua Group, Huadian Fuxin Energy, Zhejiang Zheneng Electric and Hebei Construction & Investment Plan to Form Joint Venture

Published: Sep 11 2017
Deal Summary

China Nuclear Technology Investment Co., Ltd., a subsidiary of China National Nuclear Power Co Ltd, Shenhua Group Corporation Limited, an integrated energy company, Huadian Fuxin Energy Corporation Ltd, a power generation company, Zhejiang Zheneng Electric Power CO., Ltd, a company engaged in thermal power generation business and Hebei Construction and Investment Group, a provider of construction services, intends to form joint venture to develop nuclear power plants.

The registered capital of the joint venture company will be CNY750 million (USD115.38 million). China Nuclear Technology Investment will hold 35%, Shenhua Group Corporation will hold 30%, Huadian Fuxin Energy will hold 15%, Zhejiang Zheneng Electric Power will hold 10% and Hebei Construction & Investment will hold 10% stake in the joint venture company.

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