A mega merger between China’s two principal nuclear corporations, both with extensive involvement in military programmes, was approved by Beijing’s State-Owned Assets Supervision and Administration Commission (SASAC) on 31 January.
The deal, which will form a company with reported assets worth about USD100 billion and a workforce of 150,000 people, sees the China National Nuclear Corporation (CNNC) take over the China Nuclear Engineering and Construction Group Corporation (CNECC).
In its statement, SASAC said that “on the approval of the State Council, the CNNC and CNECC have been reorganised and transferred into CNNC Ltd as whole without charge under the direct supervision of SASAC”.
Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihs.com/contact