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13 July 2021
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Construction officially started today of the ACP100 small modular reactor demonstration project at the Changjiang nuclear power plant on China s island province of Hainan. China National Nuclear Corporation (CNNC) said the project will be the world s first land-based commercial SMR. The multi-purpose 125 MWe pressurised water reactor (PWR) - also referred to as the Linglong One - is designed for electricity production, heating, steam production or seawater desalination.
First concrete being poured for the basemat of the ACP100 demonstration plant at Changjiang (Image: CNNC)
The demonstration ACP100 plant is being built on the north-west side of the existing Changjiang nuclear power plant, according to a March 2019 announcement from China s Ministry of Ecology and Environment. The site is already home to two operating CNP600 PWRs, while the construction of the first of two Hualong One units began in March this year. Both those units are due to enter commercial o
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Saudi Re to hike capital with 1:10 bonus share issue
RIYADH, 8 hours, 24 minutes ago Saudi Reinsurance Company (Saudi Re), a leading reinsurance company in the Mena region, said it will increase the company’s capital through 10% bonus share distribution, granting one share for each 10 owned-shares. Saudi Re said that the board recommended the increase of Saudi Re s capital to SR891 million ($237.6 million) from SR810 million and converting SR81 million ($21.6 million) of retained earnings into capital, through this 1-for-10 bonus share distribution. Fahad Al-Hesni, Managing Director and CEO of Saudi Re, said: The capital increase will strengthen Saudi Re s capital base and support the expansion plans in the domestic and international markets. The board s recommendation comes in line with Saudi Re s effort to generate better returns and create a greater shareholder value.”