China Power Investment Corporation and State Nuclear Power Technology Corp have officially announced their merger, as Beijing moves to consolidate its nuclear power sector, aiming eventually to export reactors.
China Power currently controls about a tenth of China’s nuclear power market, while State Nuclear was formed in 2007 to handle nuclear technology transferred from the US-based Westinghouse Electric.
The new company, State Power Investment Corporation, was expected to own assets of more than 700 billion yuan and to post revenue of more than 200 billion yuan annually, state news agency Xinhua said yesterday, citing Wang Binghua, the chairman and party secretary of State Power Investment.
China is contemplating a merger between CNNC and CGN which were set up as rivals to compete for projects at home and overseas but, under government prompting, have cooperated on a single reactor brand, Hualong 1, with the intention of eventually marketing it abroad.
Full content: Global Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Allows FTC Antitrust Case Against Amazon to Move Forward
Oct 1, 2024 by
CPI
SAP Leader Urges Caution on EU AI Rules, Warns of Competitive Disadvantage
Oct 1, 2024 by
CPI
Colorado’s Grocery Workers Unite to Oppose $24.6 Billion Supermarket Merge
Oct 1, 2024 by
CPI
Canada’s Competition Bureau Warns Businesses of Tougher Enforcement
Oct 1, 2024 by
CPI
Top Antitrust Lawyers Launch New Boutique Firm
Oct 1, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh