big deal for CVVT to be certified DOMESTIC supplier of Nuclear Valves
China Valves Technology, Inc.’s Nuclear Core Island Valves Passed All Tests by CIAE and NPIC at First Attempt ZHENGZHOU, CHINA, January 18, 2011 – China Valves Technology, Inc. (NASDAQ: CVVT) (“China Valves” or the “Company”), a leading Chinese metal valve manufacturer, today announced that its gate and check valves used in the core island of nuclear power plants successfully passed all tests administered by China Institute of Atomic Energy (“CIAE”), the primary nuclear science and technology research institute in China, and Nuclear Power Institute of China (“NPIC”), the leading base in China for nuclear reactor engineering research, design, testing and operation. With a diameter of 250mm and 1500LB of compressive resistance, the prototype valves are among the largest and highest performing valves which can ever been made by Chinese manufacturers. Thus, China Valves became the only valve manufacturer in China that passed all tests provided by these two institutes at first attempt and China Valves is now eligible to supply valves for core islands of nuclear power plants, which are mostly being imported from overseas. The valves underwent detailed tests, including functional tests and an earthquake test. The functional tests consist of a working life test which examines the valves resistance under 20 MPa high pressure at 38℃ repeated 500 times and under extreme temperatures in a range of 316℃ under pressure of 16 MPa and repeated 1,500 times, impact tests under different temperatures, a high-pressure blocking test, a flow coefficient test and a pipe loading test.
According to National Development and Reform Commission (NDRC), China will install at least eight nuclear power generating units each year between 2010 and 2020, which require more than 30,000 valves for each unit, of which over one-third are used in the core island, while accounting for approximately 70% of the total value. Each nuclear power generating unit will require valves for an amount of more than RMB350 million at core inland, of which imports have traditionally accounted for the majority