MONTREAL, July 30, 2019 /CNW Telbec/ - Comprehensive Decommissioning International, LLC (CDI), a joint venture company of SNC-Lavalin (TSX: SNC) and Holtec International, has been awarded its first commercial contract, worth hundreds of millions of dollars, to decommission the Oyster Creek nuclear power plant in Lacey Township, Ocean County, New Jersey. Under the contract with Holtec, CDI will be responsible for decommissioning, demolishing and cleaning up the site beginning this year, now that ownership of the site has transferred to Holtec.
"CDI is pleased to welcome approximately 200 former Exelon employees to our team," said Kelly Trice, President, CDI. "Their knowledge of the local community and the Oyster Creek plant, coupled with CDI's accelerated decommissioning approach will ensure we restore the site for re-use in the shortest possible time."
CDI aims to safely and efficiently decommission and dismantle the site in less than 10 years using innovative technologies. Coupled with strong project planning and management, this will result in a predictable decommissioning program.
"This is just the beginning of what we know is a bright future for CDI in reactor decommissioning, and a great example of the services-based contracts CDI can undertake," said Sandy Taylor, President, Nuclear, SNC-Lavalin. "We are strong proponents of the future of carbon-free, nuclear power around the world, be it through the industry-leading expertise and technologies that we bring to nuclear new build and life-extending refurbishment projects, however, decommissioning is also becoming a significant part of our business. In the US alone, there are almost 100 nuclear reactors."
The US Nuclear Regulatory Commission (NRC) approved the transfer of the Oyster Creek licence from Exelon to Holtec in June 2019 and plant ownership was transferred on July 1. Agreements are also in place between Holtec and Entergy for its US Indian Point, NY, Palisades, MI, and Pilgrim, MA, nuclear units, in which CDI will be the Decommissioning General Contractor, following each plant's closure.
About Comprehensive Decommissioning International (CDI)
Comprehensive Decommissioning International, LLC (CDI), headquartered in Camden, New Jersey, is a joint venture company of Holtec International (USA) and SNC-Lavalin (TSX: SNC). CDI seeks to become an industry-leading decommissioning company by providing comprehensive project solutions for retiring nuclear power plants. CDI's global operations provide expertise and technological innovation to protect the public in an environmentally responsible, safe and ethical manner. The joint venture company is committed to the enhancement of the communities in which it operates, and employing financially sustainable business practices that ensure the upholding of obligations made as a trusted steward of legacy nuclear materials. www.cdi-decom.com
About Holtec International
Holtec International is a privately held energy technology company with operation centers in Florida, New Jersey, Ohio and Pennsylvania in the US, and globally in Brazil, Dubai, India, South Africa, Spain, UK and Ukraine. Holtec's principal business concentration is in the nuclear power industry. Holtec has played a preeminent role since the 1980s by densifying wet storage in nuclear plants' spent fuel pools deferring the need for and expense of alternative measures by as much as two decades at over 110 reactor units in the US and abroad. Dry storage and transport of nuclear fuel is another area in which Holtec is recognized as the foremost innovator and industry leader with a dominant market share and an active market presence in eighteen countries. Among the Company's pioneering endeavors are the world's first below-ground Consolidated Interim Storage Facility being developed in New Mexico and a 160-Megawatt walk away safe small modular reactor, SMR-160. The SMR-160 is developed to bring cost competitive carbon-free energy to all corners of the earth including water-challenged regions. Holtec is also a major supplier of special-purpose pressure vessels and critical-service heat exchange equipment such as air-cooled condensers, steam generators, feedwater heaters, and water-cooled condensers. Virtually all products produced by the Company are built in its three large manufacturing plants in the US and one in India. Thanks to a solid record of consistent profitability and steady growth since its founding in 1986, Holtec has no history of any long-term debt and enjoys a platinum credit rating from the financial markets. Nearly 100 US and international patents protect the Company's intellectual property from predation by its global competitors and lend predictable stability to its business base. To learn more about Holtec International, visit: www.holtecinternational.com
Founded in 1911, SNC-Lavalin is a global fully integrated professional services and project management company and a major player in the ownership of infrastructure. From offices around the world, SNC-Lavalin's employees think beyond engineering. Our teams provide comprehensive end-to-end project solutions – including capital investment, consulting, design, engineering, construction management, sustaining capital and operations and maintenance – to clients across the EDPM (engineering, design and project management), Infrastructure, Nuclear and Resources businesses. www.snclavalin.com
For further information: Media, Daniela Pizzuto, Director, External Communications, 514-393-8000, ext. 54772, [email protected]; Investors, Denis Jasmin, Vice President, Investor Relations, 514-393-8000, ext. 57553, [email protected]