China National Nuclear Corp. (CNNC) is holding discussions with South Africa over a proposed nuclear power plant as China is getting ready to export its nuclear technology.
CNNC is scheduled to meet several South African companies to continue discussions. In addition, Standard Bank and the Industrial & Commercial Bank of China Ltd. announced they will sign a MoU to provide a platform for nuclear cooperation. The two banks have been involved in discussions between China Guangdong Nuclear Power Co., another major state-owned nuclear reactor builder and plant operator, and the South African government.
China is trying to accelerate its nuclear programs in order to become more self-sufficient. It hopes to advance its nuclear technology in order to decrease its dependency on foreign investors building domestic plants in the Asian country.
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