Flowserve and SUFA Technology Industry Co have formalised a 2007 memorandum of understanding into a joint venture. “The joint venture will produce specialized valves for the civilian Chinese nuclear power market and bring together the comprehensive strength of both companies to this market,” said Jiangang Qiu, Vice President of China National Nuclear Corporation (CNNC ) and Chairman of SUFA.
As part of the arrangement, both companies will supply nuclear power industry valve technology and jointly build a manufacturing facility.
The joint venture will manufacture safety-related valves, including Main Steam Isolation Valves (MSIVs), exclusively for China’s civilian nuclear power industry. MSIVs are used to assist in the safe shutdown of a civilian nuclear reactor in the unlikely event of a rupture in the plant’s steam piping.
News agency Reuters reported that the JV was 51:49 in favour of SUFA and involved investment of $25m.
Related ArticlesWill nuclear rebound? Japanese consortium buys in to Uranium One Rokkasho delayed but restarts could be on the cards EPC contract signed for South Texas ABWRs CGNPG Signs LoI for Vietnam's first reactor New nuclear build – sufficient supply capability? Japan launches uranium exploration joint ventures in Canada and Australia