CGN Power Co., Ltd. (003816.SZ) has announced that, in order to advance the development of nuclear power projects, the company has signed an Equity Cooperation 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 other parties, jointly contributing capital to establish CGN Yueshan (Lufeng) Nuclear Power Co., Ltd. to carry out the development, construction, and operation of the Lufeng Units 3 and 4 nuclear power project.
The joint venture's initial registered capital is 100 million yuan, of which the company will contribute 70 million yuan, representing a 70% stake.
This investment aligns 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. It is expected to further increase the company's installed capacity of nuclear power units under construction and enhance its competitiveness in the industry.