DATE=12/29/97 TYPE=CORRESPONDENT REPORT NUMBER=2-224578 TITLE=CHINA / RUSSIA / L-O BYLINE=STEPHANIE HO DATELINE=BEIJING CONTENT= VOICED AT: INTRO: CHINA AND RUSSIA HAVE SIGNED A DEAL TO BUILD A THREE-BILLION-DOLLAR NUCLEAR POWER PLANT IN THE EASTERN CHINESE PROVINCE, JIANGSU. V-O-A'S STEPHANIE HO REPORTS RUSSIA WOULD SUPPLY TWO NUCLEAR REACTORS TO THE PLANT, WHICH IS REPORTED TO BE THE LARGEST PROJECT BETWEEN THE TWO COUNTRIES IN RECENT YEARS. TEXT: CHINESE PREMIER LI PENG AND VICE-PREMIER LI LANQING ATTENDED THE SIGNING CEREMONY IN BEIJING MONDAY, WITH VISITING RUSSIAN FIRST DEPUTY PRIME MINISTER BORIS NEMTSOV. THE AGREEMENT CALLS FOR JOINT CONSTRUCTION OF A NUCLEAR POWER PLANT IN THE EASTERN CHINESE PORT CITY, LIANYUNGANG. CHINA'S OFFICIAL XINHUA NEWS AGENCY SAYS, UNDER THE CONTRACT, THE CONCRETE POURING FOR THE PROJECT WILL BEGIN IN JUNE, 1999. THE REACTORS ARE SCHEDULED TO BE PUT INTO OPERATION BY 2005. XINHUA SAYS THE POWER PLANT WILL HAVE A COMBINED GENERATING CAPACITY OF TWO THOUSAND MEGAWATTS. A RUSSIAN EMBASSY SPOKESMAN SAYS THE FIRST STAGE WILL COST MORE THAN TWO BILLION DOLLARS. THE ENTIRE PROJECT WILL BE MORE THAN THREE BILLION DOLLARS. CHINA ALREADY HAS TWO OPERATING NUCLEAR POWER PLANTS -- ONE IN DAYA BAY, NEAR HONG KONG, AND THE OTHER IN QINSHAN IN THE EASTERN PROVINCE, ZHEJIANG. OFFICIAL MEDIA HAVE REPORTED CHINA PLANS TO BUILD FOUR NUCLEAR POWER PLANTS IN THE COASTAL REGIONS, WHICH NEED THE ENERGY BUT HAVE FEW NATURAL RESOURCES. STATE-RUN MEDIA SAY CHINA WILL CHOOSE MORE NUCLEAR POWER SUPPLIERS AFTER THE YEAR 2000. CANADA AND FRANCE HAVE DEALS TO PROVIDE FINANCING AND TECHNOLOGY FOR CHINA'S FLEDGLING NUCLEAR INDUSTRY, WHICH ACCOUNTS FOR ONE PERCENT OF THE THE COUNTRY'S ENERGY GENERATION. U-S NUCLEAR POWER SUPPLIERS ARE ALSO EAGER TO SELL NUCLEAR REACTORS TO CHINA. PRESIDENT CLINTON AUTHORIZED SUCH SALES AT A RECENT SUMMIT MEETING WITH CHINESE PRESIDENT JIANG ZEMIN IN WASHINGTON. (SIGNED) NEB / HO / WD / WD 29-Dec-97 7:01 AM EST (1201 UTC) NNNN Source: Voice of America .