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China's CGN bids for stake in Toshiba's NuGeneration UK plant

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China's CGN bids for stake in Toshiba's NuGeneration UK plant

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HONG KONG (Reuters) – China General Nuclear Power Group (CGN) said on Tuesday it is bidding to make an equity investment in Toshiba’s <6502.T> financially troubled NuGeneration (NuGen) nuclear firm in Britain. In a statement to Reuters, the Chinese nuclear giant did not specify the size of the proposed investment. “We are willing to utilise our experience in nuclear design, construction and operation for more than 30 years to support the development of Britain’s nuclear industry,” CGN said in the statement. NuGen, solely owned by Toshiba, is expected to build three nuclear reactors in Moorside, northwest England.

(Reporting by Julie Zhu; Editing by Richard Pullin)
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