China, Russia Sign $3.6b Nuclear Deal

China National Nuclear Power Company said on Sunday two deals signed with Russian state nuclear company Rosatom for the construction of four nuclear power units in China were worth a combined $3.62 billion. Rosatom said on Saturday it would construct two units each at the Xudabao and Tianwan nuclear plants, Reuters reported. All four units will feature Russia’s latest Gen3+ VVER-1200 reactors. The reactors and all other equipment will be developed and supplied by Russia. Rosatom did not provide an estimate of the cost. China National Nuclear Power Company said in a filing to Shanghai Stock Exchange that the framework contracts will go into effect after the approval of both Chinese and Russian authorities. The four units were expected to be equipped with China-made nuclear steam turbine generators. According to International Energy Agency Executive Director Fatih Birol, there are about 60 nuclear power plants under construction and more than one-third of them are in China, declaring that China will soon overtake the United States as the top nuclear power.