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China SUFA in nuclear venture with US Flowserve

(Agencies)
Updated: 2009-03-16 11:39

SUFA Technology Industry Co, a top Chinese valve maker, said on Saturday it would establish a venture with US firm Flowserve Corp to make valves for China's growing nuclear power industry.

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The venture, based in the eastern Chinese city of Suzhou, would be owned 51 percent by SUFA and 49 percent by the US company, and involve investment of $25 million.

SUFA is a subsidiary of State-run China National Nuclear Corp (CNNC), the country's biggest owner of nuclear power plants and a developer of nuclear technology. China has nuclear generating capacity of 9.07 gigawatts and aims for 60 GW by 2020.

In the final two months of last year, China announced it would start building three nuclear stations, and it has said it will begin construction of four more in 2009 as it boosts infrastructure spending to aid the economy.