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Final sale of CANDU-6 to China announced
November 26, 1996
Shanghai, China
Prime Minister Jean Chrétien today witnessed in Shanghai
the signing by Atomic Energy Canada Limited (AECL) and the China
National Nuclear Corporation of the final contract for the landmark
sale of two CANDU-6 reactors to China. The reactors will be located
in Qinshan, near Shanghai.
"This sale attests to Canada's proven leadership in the nuclear
technology field, and our international reputation for safety
and efficiency is second to none," stated the Prime Minister.
"The reactors will enable China to meet its energy needs
and Canada to showcase its high-technology capabilities while
creating employment and opportunities at home."
The contract to build two CANDU-6 700-megawatt reactors arose
from the 1994 Team Canada visit to China. Valued at $4 billion
with a Canadian content of $1.5 billion, the contract is expected
to generate an estimated 27,000 direct and indirect person-years
of employment in Canada over the six-year construction period.
"It is Canada's hope that this contract will mark the beginning
of a long-term commercial relationship between Canada and China
in the peaceful and safe use of nuclear energy," the Prime
Minister said.
The CANDU-6 reactor is a proven, safe, efficient and environmentally
sound method of producing electricity.
The Export Development Corporation will provide financing for
the Canadian component of the sale. The total project will involve
partners from Japan, the United States and the Republic of Korea,
and will be co-financed by the national export credit agencies
of the other partner countries. The $1.5 billion Canadian component
of the project will be used to source goods and services within
Canada.
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