CGN Power Co., Ltd. (003816.SZ) plans to establish a joint venture company to develop the Lufeng Units 3 and 4 nuclear power project.
CGN Power (003816.SZ) announced that, in order to facilitate the development of nuclear power projects, the company signed an Equity Cooperation Investment Agreement on the Lufeng Nuclear Power Units 3 and 4 Project Company with China First Heavy Industries Group Co., Ltd., Lufeng City Investment Holding Co., Ltd., and others, to jointly contribute capital to establish CGN Yueshan (Lufeng) Nuclear Power Co., Ltd., for the development, construction, and operation of the Lufeng Units 3 and 4 nuclear power project. The joint venture company has an initial registered capital of RMB 100 million, of which the company contributes RMB 70 million, holding a 70% stake.
CGN Power Co., Ltd. (003816.SZ) announced that, in order to advance the development of nuclear power projects, the company has signed the "Equity Cooperative Investment Agreement on the Project Company for Lufeng Nuclear Power Units 3 and 4" with China First Heavy Industries Group Co., Ltd., Lufeng City Investment Holding Co., Ltd., and others, to jointly fund the establishment of CGN Yueshan (Lufeng) Nuclear Power Co., Ltd., for the development, construction, and operation of the Lufeng Units 3 and 4 nuclear power project. The joint venture company has an initial registered capital of RMB 100 million, of which the company contributes RMB 70 million, holding a 70% stake.
This investment is in line with the company's overall development strategy and will help facilitate the application for national approval of the Lufeng Units 3 and 4 nuclear power project. In the future, it is expected to further increase the company's installed capacity of nuclear power units under construction and enhance its industry competitiveness.
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