The Organization of Canadian Nuclear Industries applauds the signing for a Joint Venture Agreement in principle among SNC-Lavalin, China National Nuclear Corporation and Shanghai Electric Company
Thursday, September 22, 2016
September 22, 2016 Pickering Ontario. The Organization of Canadian Nuclear Industries (OCI) applauds today’s signing of a Joint Venture Agreement in principle among SNC-Lavalin, China National Nuclear Corporation and Shanghai Electric Company that will lead to the formation of a new company that would develop, market and build the Advanced Fuel CANDU Reactor (AFCR™) in China and in other counries.
The new company is expected to registered in mid- 2017 and will include design centres in Canada and in China that will collaborate to complete the design of the AFCR. This could result in the construction of the world’s first two AFCR™ units in China, and possibly subsequent builds in China and around the world.
“The construction of AFCR units in China will create high-paying jobs in Canada while helping China reduce its GHG emissions.” said OCI President and CEO Dr. Ron Oberth. Moreover the AFCR can use recycled fuel from light-water reactors (LWRs) to generate carbon-free electricity. A 700 MW(e) AFCR could run on fuel manufactered from uranium recycled from four LWR reactors thereby generating an addition six million MWh of electricity - enough electricity to power four million Chinese homes and displace six million tonnes of carbon emissions per year.
Canada has been collaboarting with China on nuclear energy for more than 20 years going back to the constuction of two CANDU 6 reactors that started production at the Qinshan site in 2003. Both reactors were completed on time and under budget and have operated on average at over 90% capacity since start-up.
“The sale of CANDU reactors would create advanced engineering and high tech manufacturing jobs in many of the 200 OCI companies that comprise Canada's nuclear supply chain” said Dr. Oberth. “OCI companies look forward to working with SNC-Lavalin and its Chinese partners China National Nuclear Corporation and Shanghai Electric Company in constructing the first AFRC units in China” added Dr. Oberth.
China is the world’s fastest growing nuclear market with 33 LWR nuclear power reactors in operation and another 23 LWRs under construction.
Organization of Canadian Nuclear Industries (OCI) is an association of more than 200 companies that supply equipment and services to the nuclear industry in Canada and in offshore markets. OCI companies design reactors, manufacture major equipment and components, deliver engineering and field services and collectively employ more than 12,000 highly skilled and specialized engineers, technologists and trades people.
Dr. Ron Oberth, President and CEO, Organization of Canadian Nuclear Industries
905 839 -0073 or 647 407 6081, email@example.com.
Ms. Marina Oeyangen, Director Operations, Organization of Canadian Nuclear Industries
905 839 -0073 or 905 706 5958, firstname.lastname@example.org
Download the PDF Press Release HERE