Cameco - India agreement a breakthough, CNA Says

OTTAWA, April 15, 2015 /CNW/ - The Canadian nuclear industry today applauded Cameco's breakthrough agreement to supply uranium to India.

"This agreement speaks to India's tremendous progress in using nuclear energy for peaceful purposes," said Dr. John Barrett, President and CEO of the Canadian Nuclear Association. "Canadian nuclear suppliers face excellent opportunities, as Cameco has just illustrated."

Dr. Barrett also noted the supportive roles played by the federal and Saskatchewan governments. Prime Minister Stephen Harper signed a Nuclear Cooperation Agreement with India in 2010, and put the agreement into effect in 2013. Saskatchewan Premier Brad Wall led trade missions to India in 2011 and 2014.

"These initiatives opened the door for Canadian nuclear expertise," Dr. Barrett said. "That means more jobs for Canadians and a cleaner energy future for India."

Since 1990, India's electrical output has tripled. Last year, nuclear energy provided 3.5 percent of India's electricity, according to the International Atomic Energy Agency. The Indian government has indicated that nuclear energy will provide 25 percent of electrical supply by 2050.

India operates 21 nuclear reactors, including two CANDUs and 16 reactors based on heavy-water technology. It is building six reactors, has approved plans for 22 more, and put forward proposals for a further 35 reactors.

SOURCE Canadian Nuclear Association

Malcolm Bernard, Director of Communications, 613-237-4262 #110 (desk), 613-612-0096 (mobile)