China winning Turkey nuclear power race

China appears to be leading the pack in the contest to build a new nuclear power station on Turkey’s Black Sea coast – a sign of how the ambitions of its nuclear companies are poised to reshape the global nuclear industry.

Financial Times reports that Beijing is not looking for government guarantees for the project and can supply its own financing, according to an Ankara official, pointing to China’s advantage in the race to build the reactor for Turkey.

“They don’t have a financing problem. If they agree they will build it,” said the Turkish energy official, adding that a visit to Beijing this week by Recep Tayyip Erdogan, Turkey’s prime minister, would shed more light on prospects for the project.

More than a year after the Fukushima disaster in Japan, as nuclear programmes in developed countries such as Germany and Japan have been slowed or shut down, emerging economies have become the focus for nuclear companies competing for new contracts.

State-backed nuclear groups China National Nuclear Corporation and China Guangdong Nuclear Power Corporation have ambitions to become global suppliers of nuclear energy and appear to be making some progress in emerging economies. China is the world’s biggest builder of new nuclear reactors.

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