New | China's nuclear power firm sees no threat from merger of rivals

The recent merger between State Nuclear Power Technology Corp and China Power Investment Corp to create the third-largest nuclear power project developer in China will not pose an immediate threat to China General Nuclear Power Corp and China National Nuclear Corp.

This is according to Zhang Shanming, the chairman of CGN Power, a Hong Kong-listed unit of state-owned CGNPC, the country's largest nuclear power project developer. Zhang is also the managing director of CGNPC.

"Competition [among the three developers] is not an issue at the moment because there are ample business opportunities abroad," Zhang said. "In fact, there is an advantage in having more Chinese firms building projects abroad since we first need to gain international recognition for our economic strength and project management capabilities."

SNPTC was set up in May 2007 as the engineering, procurement and construction contractor for building American Westinghouse nuclear reactors in China.

CNNC said in its listing prospectus in Shanghai this month SNPTC's merger with China Power Investment, a distant third-biggest project developer in China, would increase competition for the three firms in the construction of nuclear plants in both domestic and international markets.

Premier Li Keqiang was quoted by Xinhua as saying the country's nuclear power companies must raise their competitiveness and promote their equipment and capabilities overseas so that China could become one of the world's nuclear energy powers.