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(Yicai Global) Sept. 27 -- Sichuan Huadu Nuclear Equipment Manufacturing Co. (SHNEM) will supply control rod drive mechanisms (CRDM) to a nuclear power plant in Zhangzhou in China's southeastern Fujian and another in Changjiang in the southern island province of Hainan for their Hualong One generating units.
SHNEM has signed a supply contract with the Nuclear Power Institute of China, under which it will provide CRDM equipment and complementary products worth USD83.5 million (CNY553 million), Zhefu Holding Group Co. [SHE:002266], SHNEM's parent company, said yesterday.
Equipment SHNEM supplies will be used for power generators No. 1 and No. 2 of the nuclear project in Zhangzhou and power generators No. 3 and No. 4 of the Changjiang plant.
SHNEM has consolidated its leading position in 'Hualong One CRDMs' by again winning the contract to manufacture third-generation key nuclear equipment. This will also exert a positive impact on Zhefu Holding's revenue and net profit between 2018 and 2021, per the announcement.
Hualong One is the third-generation pressurized water reactor nuclear technology with China-owned intellectual property independently developed by the country in accordance with the world's state-of-the-art regulations and standards. Zhefu Holding and the Nuclear Power Institute of China hold a 66.67 percent stake and a 33.33 percent stake in SHNEM, respectively, public information shows.