Organization of CANDU Industries welcomes Indian delegation to Canada

Bilateral Nuclear Cooperation Agreement heralds opportunities for new business relationships

PICKERING, ON, Feb. 17 /CNW/ - The Organization of CANDU Industries (OCI) extends its welcome to the Indian delegation headed by Mr. S.F. Vhora, Associate Director, Nuclear Power Corporation of India Limited (NPCIL) upon their arrival in Canada to discuss mutually beneficial business opportunities between India and Canada. Member companies of OCI are looking forward to exploring with delegates the potential for new business relationships in the expanding nuclear industry.

The delegation is visiting Canada as part of a continuing series of meetings related to a Bilateral Nuclear Cooperation Agreement signed between Canada and India in June, 2010. The Canadian and Indian governments are both completing the respective domestic legal processes required to effect the ratification and entry into force of the Agreement.

"Member companies of OCI have an impeccable reputation for excellence and we are very much looking forward to discussing potential business opportunities with the visiting Indian delegates," says OCI General Manager David Marinacci. "India has constructed 17 PHWRs on its own and has an ambitious nuclear expansion plan. India is looking for additional partners to its ongoing indigenous civil nuclear programme to accelerate the growth of nuclear power in India in collaboration with interested nuclear vendors. Canada's nuclear supply chain industries are fully mobilized and capable of delivering to the most exacting international standards."

The Canadian nuclear industry is a $6.6 billion a year industry, generating more than $1.5 billion in federal and provincial revenues through taxes, and more than 70,000 direct, indirect and spin-off jobs. The Canadian Energy Research Institute (CERI) recently reported that Canada's exports of nuclear related materials and services totalled approximately $1.2 billion in 2008.

India has commenced construction of four Pressurized Heavy Water Reactors of 700 MWe each with further six units under planning stage. One fast Breeder Reactor (500 MWe) is under construction and several more are planned. Many Light Water Reactors of above 1000 MWe, are planned based on international co-operation and several of these pre-project activities have commenced. This will create business opportunities worth billions of dollars.

About OCI
The Organization of CANDU Industries (OCI) represents more than 160 Canadian companies supplying goods & services for CANDU reactors in domestic & export markets. OCI companies provide engineering services & manufactured components for the CANDU industry and although it functions separately from design authorities & utilities, OCI members participate in design, manufacture, construction & commissioning of CANDU plants here at home and abroad.

SOURCE Organization of CANDU Industries

For further information:

Marina Oeyangen
Organization of CANDU Industries
905-839-0073     website: www.oci-aic.org
Marina.oeyangen@oci-aic.org

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