(ChinaStatePower, Feb 15, 2007) China National Nuclear Corp said it has signed a strategic cooperation agreement with Sinosteel Corp to jointly invest and explore overseas for uranium resources.

In a statement posted on its website, CNNC said the deal is aimed at ensuring a steady supply of uranium for the country's growing nuclear power sector.

The deal follows a similar agreement signed with conglomerate the CITIC Group, CNNC said.

CNNC, the country's largest nuclear power plant construction firm, posted core revenue of 20.3 bln yuan in 2006, up 15 pct year-on-year. It generated 22.68 bln kilowatt-hours of electricity last year.

CNNC currently operates three commercial nuclear power plants at Qinshan, Daya Bay and Ling'ao.

China is aiming to boost its nuclear power sector to avoid future power shortages. At present it generates just 2.3 pct of its total energy needs from nuclear plants but is hoping to boost that to 4 pct by 2020, which will make it the world's fastest developer of atomic energy.

source:ChinaStatePower