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Publish Date : 07-Oct-2013

China has been rapidly relying on atomic power as its main source of power, given its benefirts compared to the energy produced from coal or wind. To assist China in the attempt, Chicago Bridge & Iron was lately given the charge to together develop nuclear power plants in China.

Chicago Bridge declared on Oct 1 that it has approved with CPI’s Engineering Company to establish a partnership to build nuclear power plants in China. Chicago’s shares responded favourably to the news and 1.1% to $70.78 on Oct 2, 2013 but dropped 0.4% on Oct 3, 2013.

Chicago Bridge needs to give engineering, purchase, growth control, commissioning, project control software and tech support team solutions for the atomic plants that are to be developed.

China Power Investment Corporation is China’s biggest power generation company, which owns one of the three nuclear power plants in China. These power plants are planned and funded by the China Power Investment Corporation.

China Power Investment Corporation is China’s largest power creation organisation, which operates one of the three atomic power plants in China, prepares and finances these plants.

According to a review by the Nationwide Energy Administration (NEA), China is predicted to make atomic power the foundation of its power-generation system in the next "10 to 20 years". The nation plans to add about 300 GWe of atomic potential over that period. A review from National Development and Reform Commission (NDRC) stated that 3240 MWe atomic potential would be added in 2013.

Since 2012, the State Council of China has approved development of four new atomic power plants and it is predicted that state Council will accept about 30 more atomic power plants by 2020. This rapid improve is mainly to meet the atomic power potential set in China's Mid- and Long-term Development Plan for Nuclear Power.

This partnership will advantage Chicago Bridge to build up its potential and ability in the atomic power industry. Chicago Bridge obtained The Shaw Group in Dec 2012 in order to improve its existence and increase its proficiency in the atomic power industry.

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