CLPNIC to Invest $10.9bn in Yangjiang Nuclear Power Station

CLP Nuclear Investment Company (CLPNIC) has signed a contract to invest CNY70bn ($10.9bn) in the Yangjiang nuclear power station in Guangdong, China.

The company will hold a 17% stake in the station under an agreement with the China Guangdong Nuclear Power Company.

The Yangjiang nuclear power station project is expected to supply energy to meet the electricity demand in the Guangdong Province.

The company will adhere to the improvement measures put forward by the mainland government after a comprehensive nuclear safety review.

Construction of the power station began in 2008 and is expected to be completed in phases between 2013-17.