New $10 billion Chinese nuclear energy project

New $10 billion Chinese nuclear energy project

The Chinese Cabinet, during its meeting chaired by the Chinese prime minister, approved the implementation of two nuclear energy projects, at a cost of more than 70 billion yuan ($10.2 billion US).

The two projects include the second phase of the Changjiang project in Hainan province and the first phase of the San O project in Zhejiang province.

A cabinet statement said the two projects will use China’s nuclear technology. The statement indicated that the San O project will include private capital in the sector for the first time.

China is one of the largest producers of nuclear energy in the world. The country is ranked third in the world in terms of total generated nuclear energy, representing about one-tenth of the nuclear energy generated in the world.

Nuclear energy contributed 4.9% of the total electricity production in China in 2019.

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Aasem Abuzeid is the Director for MENA Region. Aasem acts as a leading marketer in the Arabic speaking countries. He is also the administrator and developer of NBN.Media.