China Guangdong Nuclear Power Group (CGNPG) and Areva of France signed an eight-billion-euro (US$11.86 billion) civil nuclear energy cooperation deal on Monday, according to which the French company will help build two reactors in Taishan City in the southern Guangdong Province.

Qian Zhimin, Chairman of the CGNPG, and Anne Lauvergeon, Chairman and CEO of Areva, signed the milestone contract at the Great Hall of the People in Beijing during the signing ceremony for various commercial contracts between the two countries, in the presence of Chinese President Hu Jintao and visiting French President Nicolas Sarkozy.

"This is the largest commercial contract signed in the French nuclear energy industry history and opened a new chapter of nuclear cooperation between the two countries," said Anne Lauvergeon.

Areva will cooperate with the CGNPG to establish two European pressurized-water reactors (EPRs) in Taishan and Areva, the world's largest nuclear engineering firm, will provide all the needed materials and technology support, according to the signed deal dubbed "Taishan EPR 1&2 Contract".

The two sides also planned to set up a joint venture soon, in an effort to conduct research and development of nuclear reactors engineering technologies, said the contract.
CGNPG is a leading nuclear energy enterprise in China, which currently owns Guangdong Daya Bay Nuclear Power Station and Ling Ao Nuclear Power Station Phase I with nearly 4,000 Megawatts of installed generating capacity.