(MENAFN- ProactiveInvestors)
() has agreed terms to purchase 60% of the share capital of Shanghai KeChao Industrial Limited which processes and supplies nuclear grade boric acid.
KeChao gas an annual production capacity of 2000 tons of nuclear grade boric acid and is a supplier to China Nuclear Group.
China’s nuclear power stations require approximately 32000 tons of nuclear grade boric acid every year representing only 4-5% percentage of annual global usage.
This is expected to grow by at least 30% annually as China builds more reactors.
Through the company’s early negotiation with China Guangdong Nuclear Power Group (CGNPC) and CNG KeChao Ltd with the support of CWH will likely to acquire at least 60% nuclear market share in China.
Based on current annual total market usage KeChao would receive nuclear grade boric acid orders of about 16000 tons.
The Chinese nuclear market is predicted to require 170000 tons of boric acid in 2030.
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