State-funded China General Nuclear Power Corporation has reached an agreement with France’s EDF Energy to collaborate on new nuclear power plants, the BBC reported.
The agreement was announced in a joint press conference between UK Prime Minister David Cameron and Chinese President Xi Jinping. President Jinping was in the UK for a four day official state visit.
“We will build a global, comprehensive strategic partnership between our countries in the 21st century and jointly open up a golden era,” Jinping told reporters via a translator.
One of the nuclear plants is slated to cost roughly $28b, noted Reuters.
This was just one of the investment announcements likely to come out of extensive talks between the UK and Chinese governments as Cameron has aggressively pitched UK investment opportunities to China. Deals worth more than $62b are planned to be announced.