China Guangdong Begins Construction of $10.2 Billion Nuclear Power Project

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Researched by Industrial Info Resources (Sugar Land, Texas)--The China Guangdong Nuclear Power Group (Shenzhen) has begun construction of one of the country's largest nuclear power stations in the Dongping Township of Guangdong province's Yangjiang City. The $10.2 billion plant will have six units, each of which will have the capacity to generate 1 gigawatt.

Units 1 and 2 are expected to complete construction in about four and a half years, units 3 to 6 are expected to be built within 54 months. The first set of units are planned to come on stream in 2013, and the second set could come online by 2017.

More than 80% of the equipment for the plant will be provided by Chinese manufacturers. The group has signed equipment supply contracts with Dongfang Electric (SHA:600875) (Chengdu, Sichuan province) and Shanghai Electric (SHA:601727) (Shanghai).

The cost for each kilowatt of electricity generated by the station is a little bit over $1,461, making it one of the most cost-efficient nuclear projects in China.

An official of the National Development and Reform Commission said that once the plant completes construction, it's expected to add 45,000 gigawatt-hours to China's power grid every year. Annual carbon dioxide emissions are expected to fall by 36 million tons, and coal consumption is expected to fall by 16 million tons.

As stated in Guangdong's Eleventh Five-Year Plan, the province is set to have 24 gigawatts of installed nuclear power capacity.

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