CGN lists applied nuclear science assets

China General Nuclear (CGN) has listed its applied nuclear science and technology assets on the Shenzhen Stock Exchange. CGN Nuclear Technology Development becomes China's first A-share listed company involved in non-power nuclear technology.

On 24 January, Dalian International announced it and CGN had completed a major asset restructuring, with CGN becoming the controlling shareholder of Dalian International. China Dalian International has spent some CNY4.2 billion ($612 million) to acquire shares of seven companies held by CGN subsidiary CGN Nuclear Technology Application. The corporation has also raised about CNY2.8 billion through private placements.

China Dalian International Economic and Technical Cooperation Group, was officially renamed CGN Nuclear Technology Development Company (CGNNT) yesterday.

CGNNT general manager Zhang Jianfeng was quoted by China Daily as saying, "Applied nuclear science in developed countries has formed a massive industrial chain - covering industry, agriculture, medical health, food safety, environmental protection and security." He added, "The industry in China, on the other hand, has great potential for further development as it has been less tapped compared with developed countries such as the US."

Researched and written
by World Nuclear News