nuclear-news

Canada’s SNC Lavalin marketing nuclear reactors to China

SNC-Lavalin to build Candu nuclear reactor for China, BERTRAND MAROTTE, MONTREAL — The Globe and Mail, Sep. 22, 2016 SNC-Lavalin Group Inc. is closing in on its goal of becoming a major player in China’s thriving nuclear-energy industry with an agreement for the development in that country of the next generation of Candu reactors.

The Montreal-based global engineering giant said on Thursday it has an agreement in principle for a joint venture with state-owned atomic-power and weapons company China National Nuclear Corp. and manufacturing conglomerate Shanghai Electric Group Co. Ltd. to design, market and build the Advanced Fuel Candu Reactor (AFCR).

SNC signed an initial memorandum of understanding with CNNC to pursue power generation, mining and nuclear-related environmental projects around the world more than two years ago.

SNC bought the Candu unit from Ottawa for $15-million in 2011. But Candu has had a poor track record of selling its technology abroad and questions have also been raised over its cost-effectiveness.

China, however, appears to have endorsed the concept of building reactors that run on recycled uranium…….

The proposed joint venture follows the signing of a framework agreement in 2014 and is subject to government and regulatory approvals, SNC said. http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/snc-lavalin-strikes-deal-to-build-nuclear-reactors-in-china/article32000350/

September 23, 2016 - Posted by Christina Macpherson | Canada, China, marketing