BEIJING, Feb. 20 (UPI) -- China has begun work on a nuclear power plant in Fujian province, state-run China Central Television reported.

Phase I of the Ningde plant, the first nuclear plant in the province, will have four reactors with 1 gigawatt of generating capacity each.

The project is estimated at more than $7 billion, and investors include Guangdong Nuclear Power Investment Co., Datang International Power Generation Co. Ltd. (OTCPK:DIPGF) and Fujian Coal Group.

The first reactor is expected to begin operation in 2012, and the other three could begin operation in the following three years. Annual on-grid electricity is expected to reach 30 billion kilowatt hours. The plant, about 88 miles south of Fuzhou, capital of Fujian, will be China's first nuclear plant situated on an island.