Follow Philippines Investment Immigration and Philippines economic news: Recently, China National Nuclear Power Engineering Company signed a strategic cooperation agreement with the National Grid Corporation of the Philippines in Manila.
According to the cooperation agreement, both parties will jointly promote and service the construction and development of the Philippine power grid. China National Nuclear Power Engineering Company will also undertake the survey and design work for a hub substation located in the suburbs of Manila. Reports indicate that China National Nuclear Power Engineering Company has been actively promoting international development in recent years and has already launched projects in 12 countries.
It is reported that China National Nuclear Power Engineering Company is affiliated with China National Nuclear Corporation, which was established in 2007 and is primarily engaged in the introduction, digestion, and absorption of third-generation nuclear power technology from the United States, and through independent innovation, aims to form a domestic brand nuclear power technology platform in China. China National Nuclear Power Engineering Company is an important component of this platform.
Wang Binghua, Chairman of China National Nuclear Corporation, stated in an interview with Xinhua News Agency in 2010 that the company will promote its overall listing through a "three-step" approach. First, the state will inject capital in batches over three years, increasing the registered capital from 4 billion yuan at its establishment to 10 billion yuan; second, a financial company will be established within this year to achieve financial capital operations; third, the company will enter the cultivation period for public listing from 2011 to the first half of 2012, preparing for the listing.
