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SNC-Lavalin JV affiliate CDI to enter into a multi-year contract with Holtec to decommission US nuclear power plant

2019-04-16 07:47 ET - News Release

SNC-Lavalin JV affiliate CDI to enter into a multi-year contract with Holtec to decommission US nuclear power plant

Canada NewsWire

MONTREAL, April 16, 2019 /CNW Telbec/ - Comprehensive Decommissioning International, LLC (CDI), a joint venture company of SNC-Lavalin (TSX: SNC) and Holtec International, has agreed to enter into a Decommissioning General Contractor Agreement for another US nuclear decommissioning contract, expected to exceed CAD $1 billion.

Entergy Corp. (NYSE: ETR) has agreed to sell the subsidiaries that own Indian Point Units 1, 2, and 3, located in Buchanan, N.Y., to a Holtec International subsidiary for decommissioning. Under the terms of the Holtec and Entergy agreement, which is subject to regulatory approvals, Holtec will assume ownership of the site which includes the transfer of the licenses, spent fuel, and Nuclear Decommissioning Trusts (NDTs), for the three units. The transaction is targeted to close in the third quarter of 2021, after Unit 3 has been shut down and defueled. Holtec will seek to complete the decommissioning of the Indian Point site decades sooner than if Entergy continued to own the plant.

Subject to finalizing the terms of a Decommissioning General Contractor Agreement with Holtec, CDI would become responsible for performing the decommissioning of all three reactor units.

"This is a strong vote of confidence by Holtec in CDI's abilities in the decontamination and decommissioning business," said Sandy Taylor, President, Nuclear, SNC-Lavalin. "CDI has rapidly become a major player for prompt decommissioning in the US in what continues to be a fast growing market."

"We aim to bring a fleet approach to the decommissioning business and safely return the sites to community use on an accelerated timescale," added CDI President Kelly Trice. CDI was previously retained by Holtec in 2018 for the decommissioning and waste management of Entergy's Pilgrim and Palisades nuclear plants.

About SNC-Lavalin

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, Clean Power, and Resources businesses. www.snclavalin.com

About Comprehensive Decommissioning International

Comprehensive Decommissioning International, LLC (CDI) is a jointly owned company of Holtec International and SNC-Lavalin. Headquartered in Camden, New Jersey, CDI is an industry-leading general decommissioning contractor that provides comprehensive project solutions for retiring nuclear power plants. CDI brings together a legacy of expertise and technological innovation to protect the public in an environmentally responsible, safe and ethical manner. CDI is committed to the enhancement of the communities in which it operates, employing financially sustainable business practices that ensure the upholding of obligations made as a trusted steward of legacy nuclear materials. www.cdi-decom.com

 

SOURCE SNC-Lavalin

View original content: http://www.newswire.ca/en/releases/archive/April2019/16/c7140.html

Contact:

Media, Daniela Pizzuto, Director, External Communications, 514-393-8000, ext. 54772, media@snclavalin.com; Investors, Denis Jasmin, Vice President, Investor Relations, 514-393-8000, ext. 57553, denis.jasmin@snclavalin.com

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