Top nuclear companies may merge

China may merge its two biggest nuclear power companies as it bids to compete for contracts in overseas markets, three industry officials familiar with the situation said on Thursday.

Plans have already been submitted to the State-Owned Assets Supervision and Administration Commission to merge China National Nuclear Corp with China General Nuclear Power Corp, said Xu Lianyi, a former government official and industry consultant.

The two companies were deliberately set up as rivals to compete for projects in China and abroad. But under government prompting, they have cooperated on a single reactor brand, Hualong I, with the intention of eventually marketing it abroad.