MOU lays the foundation for billions of dollars of business for Canadian
PICKERING, ON, Jan. 23 /CNW/ - The Organization of CANDU Industries (OCI)
applauds the quick action by Atomic Energy of Canada Limited (AECL) and the
Government of Canada that has resulted in a Memorandum of Understanding being
signed with India's Larson & Toubro for co-operation on the ACR-1000, the
latest generation of CANDU reactors.
The Trade delegation led by International Trade Minister Stockwell Day
also included OCI members Cameco and SNC Lavalin Nuclear.
The MOU, which is subject to final approval of a bilateral Nuclear
Cooperation Agreement between India and Canada, involves the development of a
competitive cost model for the ACR-1000 and will pave the way for discussions
for reactor sales in India's rapidly growing economy.
"This MOU provides an excellent foundation for an OCI/Ontario Chamber of
Commerce Trade Mission taking place this spring and could lead to billions of
dollars of business opportunities for Canadian companies," says OCI President
Dr. Neil Alexander. "We are extremely optimistic about the possibility for
direct sales and partnership arrangements with Indian companies that will open
up broader export opportunities for Canada's nuclear industry."
About the Organization of CANDU Industries
The Organization of CANDU Industries (OCI) represents 122 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.
For further information:
For further information: Josh Turner, (416) 322-3030 ext. 232, Cell:
(647) 828-0862, firstname.lastname@example.org