Canada’s World-Class Energy Industry Capability and Resources Can Foster China’s Continued Growth Within a Cooperative Framework

Canada’s International Trade Minister calls for greater Canada-China nuclear cooperation

(No. 291 - October 10, 2011 - 10:00 a.m. ET) The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, today visited Guangdong Province, China, where he called for greater Canada-China nuclear cooperation while meeting with officials from, and touring the facilities of, China Guangdong Nuclear Power Company. Minister Fast was accompanied by representatives of world-leading Canadian companies SNC-Lavalin, Cameco Corporation and Babcock & Wilcox, all active in the global energy industry.

“Canada’s innovation- and knowledge-based prosperity will be enhanced by greater cooperation between Canada and China’s energy sectors—including their nuclear sectors,” said Minister Fast. “Greater cooperation will contribute to job creation, economic growth and increased prosperity in both our countries. It will contribute to the success not only of major corporations, but also the success of their small and medium-sized partners.”

In 2010, China became the world’s largest energy consumer, and the country has identified nuclear power as a strategic priority. By 2020, China’s nuclear-power-generating capacity is expected to increase six-fold and account for roughly 40 percent of the world’s new nuclear-power-generating capacity.

China currently operates 14 nuclear-power plants—including two CANDU reactors. The country has an additional 25 plants currently under construction, and there are plans for many more. According to the World Nuclear Association, China more than tripled its uranium imports in 2010 to feed its growing demand.

“From our world-leading engineering services to the demonstrated advantages of CANDU technology, Canadian expertise along with high-quality resources can help China meet its energy needs,” said Minister Fast. “Greater nuclear cooperation between Canada and China is another example of how closer ties will help both our countries.”

Canadian companies that are part of Minister Fast’s delegation in Guangdong Province include SNC-Lavalin, which now owns and is leading the development of the CANDU technology; Cameco Corporation, a major uranium supplier; and Babcock & Wilcox (nuclear division), which has the knowledge and expertise to develop innovative solutions for all areas of nuclear-plant operations.

- 30 -

A backgrounder follows.

For further information, media representatives may contact:

Rudy Husny
Press Secretary
Office of the Honourable Ed Fast
Minister of International Trade and Minister for the Asia-Pacific Gateway
613-992-7332

Trade Media Relations Office
Foreign Affairs and International Trade Canada
613-996-2000
Follow us on Twitter: @Canada_Trade

Backgrounder - Canadian Companies Taking Part in Visit to China Guangdong Nuclear Power Plant Company (CGNPC)

Babcock & Wilcox Canada Ltd.

Babcock & Wilcox Canada Ltd. (Cambridge, Ontario) is North America’s largest manufacturer of steam-generation products and services. B&W Canada is a comprehensive nuclear products and services company with the technology, resources and expertise to manage nuclear power projects of any size. B&W Canada has designed and manufactured more than 300 nuclear steam generators for customers worldwide.

Cameco

Cameco, headquartered in Saskatoon, Saskatchewan, is one of the world’s largest uranium producers—providing about 16 percent of world production. It currently has over 300 million pounds of uranium committed to 53 customers under long-term sales contracts. Its large production and reputation as a reliable supplier are attractive qualities for Chinese companies seeking to diversify supply.

SNC-Lavalin

SNC-Lavalin (Montreal, Quebec) is one of the leading engineering and construction groups in the world. SNC-Lavalin companies provide engineering, procurement, construction, project management and project financing services to a variety of industry sectors, including agri-food, pharmaceuticals and biotechnology, chemicals and petroleum, environment, heavy construction, mass transit, mining and metallurgy, power and water management.

CANDU Energy, a wholly owned subsidiary of SNC-Lavalin Group Inc., recently purchased Atomic Energy of Canada Limited’s commercial reactor division, including CANDU reactor sales and development. As such, it is seeking to solidify a relationship with China Guangdong Nuclear Power Company (CGNPC) for the development and sale of CANDU nuclear power plants. SNC-Lavalin also recently signed a strategic cooperation agreement with China Nuclear Power Engineering Company, a wholly owned subsidiary of CGNPC, for cooperation in clean energy (primarily nuclear, wind, solar, hydropower, geothermal and biomass) in third countries.