Canada now ready for India nuclear business

Canada now ready for India nuclear business

Joe Oliver, Canada’s Minister of Natural Resources, and Lynne Yelich, Minister of State (Foreign Affairs and Consular),  announced the coming into force of the Canada–India Nuclear Cooperation Agreement.

“This milestone represents a significant step in diversifying markets for our energy exports, thereby creating jobs and solidifying Canada’s long-term prosperity,” said  Oliver. “The agreement with India will permit Canadian companies to reach an important new market for Canadian uranium, nuclear technology, services and equipment.” Minister Oliver made this announcement following a meeting with India’s Minister of External Affairs, Salman Khurshid, on Monday, September 23, in Ottawa. He visited India in October 2012 to promote Canadian exports to India, the fourth-largest energy consumer in the world.

Minister Oliver and Minister of State Yelich previously announced that the Appropriate Arrangement pursuant to the Canada–India Nuclear Cooperation Agreement had been signed by both countries at an announcement in Saskatoon on April 8, 2013. “I am very pleased that this crucial Agreement is now in force,” said Minister Yelich. “It is important for the Province of Saskatchewan — one of the world’s largest producers of uranium — and can only solidify Canada’s already strong relationship with India.”

What this means

Most of India’s current fleet of reactors runs on heavy water technology utilizing natural uranium. Canada is the largest producer of nuclear energy using the “Candu” process which utilizes heavy water and natural uranium.  Canada nuclear industy exports $1 billion of uranium per year and  employs 30,000 people. The Nuclear Cooperation Agreement and the supporting Appropriate Arrangement will allow Canadian companies to export nuclear items for civil nuclear  uses.


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