At the 23rd Extraordinary Meeting of the 5th Board of Directors, held on 24 Sept 2008, a proposal to found a joint venture named Anhui Wuhu Nuclear Power Co., Ltd. was examined and approved.

The company will hold a 15% stake in Anhui Wuhu, while China Guangdong Nuclear Power Group (CGNPG), Shenergy Company Limited and Shanghai Electric Power Co., Ltd. will hold 51%, 20% and 14% stakes, respectively.

The registered capital of Anhui Wuhu will be RMB 200 mln, with RMB 100 mln as initial payment, of which all parties concerned will make pro rata cash payments. The remaining RMB 100 mln will be paid by the aforementioned four parties within two years following the establishment of Anhui Wuhu.

Currently, the Anhui Development and Reform Commission and CGNPG have together submitted a letter to construct the first phase of the Anhui Wuhu Nuclear Power Station. In addition, a feasibility study on the project has been completed and the company has authorized the company's Chairman to sign relevant investment agreements.

Board of Directors
26 Sept 2008


Source: Securities Times

Date: 26 Sept 2008

CN01/RL/JL/BT/KM