More cash flows to Taishan Project

More cash flows to Taishan Project

Overview

  • Release Date: November 16, 2016

CGN Power recently announced that the company and its subsidiaries along with the other shareholders of Taishan Project will inject capital by cash to Taishan according to their respective shareholding ratio.

 

The China General Nuclear Group (CGN)will invest 2.142 billion RMB according to its interest percentage. After the capital injection, the registered capital of Taishan Nuclear will increase to 28.6 billion RMB from 24.4 billion RMB. While CGN will still hold 51% shares directly and indirectly of Taishan Nuclear Project.

 

The case of this capital injection shall be approved by the Board of Directors of Taishan first. And then it has to be reported to China’s Ministry of Commerce to get registered before it become effective.

 

After it obtains the approval, all sides will pay the agreed value in cash by installment as blow:

 

The first-stage payment: by the end of December, 2016 with total value of 1 billion RMB ( 170 Million USD).

 

The second-stage payment: by the end of April 2017 with the total value of around 3.2 billion RMB ( 535 Million USD).

 

 

About Author

Elaine Li

Elaine Li (李益楠) is Marketing Manager for the Chinese Market. With ten years of experience in the nuclear power market, Elaine is experts for the certification of safety equipment (HAF 604 and 601) and marketing intelligence.

Write a Comment

<