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SNC SNC Lavalin Group Inc

43.49
0.00 (0.00%)
09 Oct 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
SNC Lavalin Group Inc TSX:SNC Toronto Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 43.49 43.31 43.57 0 01:00:00

SNC-Lavalin joint venture wins contract to refurbish second CANDU nuclear unit at Bruce Power

17/12/2021 12:30pm

PR Newswire (Canada)


SNC Lavalin (TSX:SNC)
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MONTREAL, Dec. 17, 2021 /CNW Telbec/ - Candu Energy Inc., a member of the SNC-Lavalin Group (TSX: SNC), and Shoreline Power Group joint venture (JV) partners Aecon Group Inc. and United Engineers & Constructors Inc., have been awarded a second fuel channel and feeder replacement (FCFR) contract, for Bruce Power's Unit 3, valued at approximately CAD $400 million. SNC-Lavalin holds a 30 per cent share in this Unit 3 project. In 2018, the JV was awarded the first FCFR contract for the refurbishment of Unit 6. Both projects support Bruce Power's Life Extension Program that will allow its CANDU units to continue to operate safely through to 2064. 

"This new refurbishment work on Unit 3 is a continued vote of confidence by Bruce Power in our abilities as the OEM and steward of CANDU nuclear technology," said Sandy Taylor, President, Nuclear, SNC-Lavalin. "We will continue to leverage our deep technical knowledge base, decades of CANDU experience and innovation to confidently fulfill the refurbishment needs for this reactor as we have been doing now for several years on Unit 6.''

The scope of work under the contract encompasses all necessary planning and execution activities for the reactor refurbishment. Planning will commence shortly in preparation for the outage scheduled to start in 2023 when the actual work to remove and replace the reactor related components — 480 fuel channels and calandria tubes, 960 end fittings — will be performed.  In addition, the team will also remove and replace 980 feeder pipes targeting a project completion in 2026. The JV is also responsible for the operations of the complex, robotic tooling required for the work, and the management and training of the full workforce.

"We are making this significant contract award with the confidence that the members of the Shoreline Power Group have demonstrated the experience and commitment to safety, quality and innovation to successfully deliver this key part of our Life Extension program," said Mike Rencheck, Bruce Power's President and CEO.

As a Preferred Supplier to Bruce Power, the JV could be awarded similar contracts for the refurbishment of the four remaining units in their nuclear fleet.

Bruce Power is a low-cost electricity provider that powers more for less, delivering 30 per cent of Ontario's electricity at 30 per cent less than the average cost to generate residential power. Bruce Power's role has been recognized by a range of independent experts, business groups and energy experts in recent years.

About Candu Energy
Candu Energy is a leading full-service nuclear technology company providing nuclear reactors and products and services to customers worldwide. We design and deliver state-of-the-art CANDU® reactors, carry out life extension projects, provide plant life management programs and tools, and offer operation and maintenance services for existing nuclear power stations. CANDU® reactors supply approximately 50% of Ontario's electricity and 16% of Canada's overall electricity requirements. Candu Energy develops products to deliver safe, reliable, affordable and CO2-free energy with a view to the future, while meeting the global nuclear industry's highest safety and regulatory standards.

About SNC-Lavalin
Founded in 1911, SNC-Lavalin is a fully integrated professional services and project management company with offices around the world dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, technology and data to design, deliver and operate the most complex projects. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital – and delivered to clients in key strategic sectors such as Engineering Services, Nuclear, Operations & Maintenance and Capital. News and information are available at snclavalin.com or follow us on LinkedIn and Twitter.

SOURCE SNC-Lavalin

Copyright 2021 Canada NewsWire

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