China National Nuclear, Huaneng cooperation on nuclear plant

China's largest nuclear power plant builder, China Nitional Nuclear Corp has set up a joint venture with China Huaneng Group to build a nuclear power plant in Changjiang County of Hainan, a south province in China, according to China Knowledge.

CNNC will invest over 16 billion yuan on this project and will be equipped two pressurized water reactors with capacity of 650,000 kw each.

The nuclear plant was planed to begin construct next year and put into production by the end of 2014.

As early as in May, the two sides has sighed a frame agreement on a strategic cooperation of the nuclear plant.

In Jul. 18, the National Development and Reform Commission gave approval to the plant's initial preparation work.