State Council Approves Four Nuclear Projects with Eight Units, Total Investment Exceeds RMB 170 Billion
On July 31, the State Council executive meeting approved four nuclear power projects—Zhejiang Jinqimen Phase II, Guangdong Taipingling Phase III, Liaoning Zhuanghe Phase I, and Shandong Laiyang Phase I—with eight reactor units. These are the first approved nuclear projects in the 15th Five-Year Plan period, with total investment estimated at over RMB 170 billion. Shanghai nuclear industry firms have won contracts worth nearly RMB 50 billion in early tenders. The city aims to grow its nuclear industry to RMB 60 billion by 2027.
On July 31, the State Council executive meeting approved four nuclear power projects: Zhejiang Jinqimen Nuclear Power Phase II, Guangdong Taipingling Nuclear Power Phase III, Liaoning Zhuanghe Nuclear Power Phase I, and Shandong Laiyang Nuclear Power Phase I, with a total of eight reactor units. These are the first batch of nuclear projects approved during the 15th Five-Year Plan period, with total estimated investment exceeding RMB 170 billion.
Shanghai, an important base for the nuclear power industry, has secured contracts worth nearly RMB 50 billion in the pre-construction tendering for the newly approved projects. The construction cycle for nuclear power projects is about 60 months, and long-lead equipment tendering can begin after the National Energy Administration approves preliminary work. Shanghai nuclear enterprises are participating across the projects, covering research and design, complete equipment supply, and engineering construction services.
In detail, Shanghai Nuclear Engineering Research and Design Institute is responsible for the overall design of Laiyang Phase I and the general contracting of the nuclear island. Shanghai Electric Nuclear Power Group won bids for 24 units (sets) of main nuclear-island equipment, including reactor coolant pumps, reactor internals, steam generators, pressurizers, and control rod drive mechanisms. Shanghai Electric Power Station Group won the conventional island TG package of 2 units (sets). CGN Digital Technology won the DCS system contract for Taipingling Phase III. Shanghai Automation Instrumentation won the BOP chemical water treatment equipment contract for Laiyang Phase I. Apollo Machinery won 8 units (sets) of auxiliary feedwater electric pumps for Zhuanghe Phase I. Kaiquan Pump received orders for 28 cooling water pumps and essential service water pumps. Shanghai Senyong received orders for 24 heat exchangers. In engineering construction, China Nuclear Industry Fifth Construction Co. won the nuclear island installation works for Laiyang Phase I, and Guoneng Operation will provide pre-service and pre-operational inspection services for Laiyang Phase I.
Shanghai is advancing its nuclear power industry toward a world-class cluster. The Shanghai Nuclear Power Industry High-Quality Development Action Plan (2024-2027) sets a target that by 2027 the city's nuclear power industry scale will reach RMB 60 billion, with significantly improved industrial foundation and modernized industrial chain, and the basic completion of a world-class nuclear power industry center.
Why this event matters
The event has a measured impact on 2 industrys. The strongest current signal is positive for Nuclear Equipment, with intensity 85/100 and 95% confidence over a medium term horizon.
Nuclear Equipment
- Direction
- positive
- Intensity
- 85
- Confidence
- 95%
- Horizon
- Medium term
Nuclear Power
- Direction
- positive
- Intensity
- 80
- Confidence
- 90%
- Horizon
- Long term
Impact figures are analytical estimates that combine direction, intensity, confidence and event importance. They are not investment advice.