Wednesday, 1 February 2012

SNC-Lavalin gets $48M contract with Romania

Well looks like SNC-Lavalin is doing pretty well as they secure $48M contract with Romania nuclear power plant. Remember SNC-Lavalin is the company who bought the Candu part of AECL for -$60M (paid the government +$15M and received $75M from them as initiative plus government keeping all the existing &future liabilities): "Canadian engineering giant SNC-Lavalin Group Inc. has won a contract to install venting equipment at Romania’s Cernavoda nuclear power plant, part of an industry-wide safety upgrade in the wake of the meltdown at the Fukushima Daiichi plant in Japan last year.
The contract with Societatea Nationala Nuclearelectrica (SNN) is worth about $48-million. It will see SNC’s nuclear subsidiary put in reactor containment filtering venting systems at Cernavoda, which produced roughly 20% of Romania’s electricity from its location in the south-east corner of the country.
Engineering and procurement work has started and contruction is scheduled to begin immediately, SNC said. The project is expected to be finished in late 2013.
Cernavoda uses Candu reactor technology from Atomic Energy of Canada Ltd. SNC bought Candu, AECL’s commercial nuclear-reactor business, for $15-million last June after a two-year effort buy the Canadian government to privatize it.
In August, Candu won a $440-million deal with Argentina’s nuclear operator to reburbish a Candu reactor at the Embalse Nuclear Generating Station."
This is the story about the $440-million deal that the Candu Energy already won last summer in Argentina:
And if you are wondering who SNC-Lavalin is awarding contracts for some of the things in needs for its work in Romania, it is the French company Areva!: "Planned for completion over the next 27 months, the contract is part of a global co-operation agreement between Areva and SNC-Lavalin for CANDU-specific reactor designs."

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