MONTREAL, July 24, 2014 /CNW Telbec/ - SNC-Lavalin (TSX:
SNC) is pleased to announce that it has signed a formal memorandum
of understanding (MOU) with the China National Nuclear Corporation
(CNNC) to jointly develop and pursue power generation, mining and
metallurgy and nuclear-related environmental protection
projects.
The MOU signing took place today at the Westin Bayshore in
Vancouver, British Columbia. The
agreement was signed by Preston
Swafford, Chief Nuclear Officer, SNC-Lavalin Group Inc. and
President and CEO, Candu Energy Inc., and Qian Zhimin, President,
CNNC. Also in attendance were representatives from the Chinese
National Energy Administration and the Government of Canada.
Under the agreement, SNC-Lavalin will work with the CNNC to
develop reactors using Advanced Fuel CANDU (AFCR) technology in
China. Developed by SNC-Lavalin's
wholly-owned subsidiary, Candu Energy, AFCR technology uses both
recycled uranium- and thorium-based fuels to deliver
high-performing reactors with strong environmental benefits. The
MOU also provides a framework for collaboration between SNC-Lavalin
and CNNC on uranium mining projects in China, and the pursuit of international
project opportunities in various high-growth sectors and
markets.
"We are pleased to sign this strategic partnership agreement
with CNNC to develop nuclear and uranium projects in China, while pursuing high-potential
opportunities abroad," said Preston
Swafford. "These projects have the potential to generate
billions of dollars for the Canadian and Chinese economies, while
supporting China's growing demand
for energy."
Founded in 1911, SNC-Lavalin is one of the leading engineering
and construction groups in the world and a major player in the
ownership of infrastructure. From offices in over 40 countries,
SNC-Lavalin's 30,000 employees provide EPC and EPCM services to
clients in a variety of industry sectors, including mining
andmetallurgy, oil and gas, environment andwater, infrastructure
and clean power. SNC-Lavalin can also combine these services with
its financing and operations & maintenance capabilities to
provide complete end-to-end project solutions.
www.snclavalin.com
SOURCE SNC-Lavalin