$3
4.
being gained in the U.K. on the assessment of the safety of PWR plant. The method of safety analysis that will be used will draw on the experience existing in other countries at the time licensing is undertaken in Guangdong. At present it is envisaged that the method adopted will mainly be based on the design basis accident approach, with use of the event or fault tree analysis method to give additional verification that there will be no unacceptable risks to
the environment.
in
Radioactive gaseous and liquid wastes will generally be treated and discharged under specified conditions in an environmentally acceptable manner,
following an appropriate period of decay storage on site. Solid wastes will be stored safely on site in appropriately shielded drums until the route of ultimate disposal has been chosen. All discharge of waste will be governed by standards and regulations established in the People's Republic of China.
The methods adopted for
contracting and project management will reflect the joint aims and capabilities of GPC and CLP. In order to secure the maximum transfer of technology, GPC and CLP will take the central role in the management of the project, appointing consultants as necessary to provide specialist advice. A flexible approach to contracting method will be maintained until specific offers are available, though approaches involving a turnkey contract or, at the other extreme, a very large number of individual contracts will not be adopted.
The first unit can be available for commercial load in April 1988. though this will involve an extremely tight programme demanding the utmost efforts from all parties. The second unit can follow one year later.
The reactor vendor will be required to supply the first fuel charge and to guarantee fuel supply during the early years of operation. Ultimately, when facilities become available and subject to quality being demonstrated and the price being competitive, fuel will be supplied by China.
ECONOMICS AND FINANCE
Detailed analyses of the economic and the financial viability of a 2 x 900 MW PWR power station have been carried out. In the analyses, it has been assumed that the two units will be put into commercial operation in early 1988 and early 1989 respectively.
After extensive investigations, the total base cost, which CoverS equipment, civil works, erection, design and specialist engineering services, is estimated to be US$1857.5m at 1980 prices. The initial nuclear fuel charge is estimated at US$195.6m at 1980 prices. Taking into consideration the price escalation and the interest during construction, the total investment upon completion of the nuclear station, as at present envisaged, would be US$4068.1m representing a present value of US$2369m at a discount rate of 12%.
It has been assumed that a joint venture company tentatively called Guangdong Nuclear Power Company (GNPC) will be formed to develop, finance, own, operate and manage the nuclear power station.