OTTAWA, Nov. 6, 2012 /CNW/ - Canada's nuclear industry congratulates Prime Minister Harper on the successful completion of negotiations with India that will implement a bilateral Nuclear Cooperation Agreement, signed in 2010.
"This is good news for Canada's nuclear industry and the economy as it will allow Canadian companies to sell uranium and nuclear equipment to India for civilian purposes," said Denise Carpenter, President and CEO of the Canadian Nuclear Association (CNA). "Canadian and Indian companies will now be able to cooperate in international nuclear markets, making our nation more competitive and allowing us to play a key role in meeting India's growing energy needs."
Canada produces 20% of all global uranium, making our country the second largest producer in the world. The uranium industry employs 5,000 people across Canada and is the leading employer of Aboriginal people in Saskatchewan.
The Canada-India Nuclear Cooperation Agreement will further expand opportunities for Canadian companies bringing hundreds of new jobs and billions in new investments in Canada, and greater security of nuclear fuel supply for India.
The Canadian nuclear industry directly and indirectly employs 60,000 Canadians in uranium mining and power generation operations. Current mining and plant operations, including refurbishment projects, bring $7.9 billion annually to the Canadian economy.
A 2012 CNA/CME study forecasts that new domestic investments in the nuclear industry will drive employment growth by 40% in the next five years thanks to growing uranium mining capacity in Saskatchewan, mid-life refurbishment of 10 CANDU reactors in the coming 11 years, and the construction of two new reactors.
Today's announcement will further fuel the growth of the industry.
For more information about Canada's nuclear industry, please visit www.cna.ca
SOURCE: CANADIAN NUCLEAR ASSOCIATION
For further information:
Director of Communications
Canadian Nuclear Association
PM announces conclusion of negotiations on Canada-India Nuclear Cooperation Agreement