Mumbai: Engineering giant Larsen and Toubro today said it has entered into an agreement with Atomic Energy of Canada Limited (AECL) for heavy water reactors.
This agreement is subject to final approval by the governments of India and Canada and a bilateral Nuclear Co-operation Agreement between the two countries, L&t said in a filing to the Bombay Stock Exchange.
L&T and AECL have joined hands for cooperation on advanced CANDU reactor ACR1000 and to develop a competitive cost model for ACR1000, the filing added.
Upon completion of the indicative cost model AECL and L&T have agreed to begin discussions to develop nuclear power plants in India on Engineering Procurement and Construction (EPC) basis and utilise the collective expertise of the parties in global markets.
The ACR1000 is AECL’s generation III+ reactor that utilises the proven concepts of pressurised heavy water reactor (PHWR).
PHWR technology is one of the most highly competitive nuclear technologies in the world with regard to capital cost, safety and efficiency. The design allows refuelling online which eliminates the periodic refilling outage required by other designs.
The company further said L&T and AECL are optimistic that there will be a good demand for the ACR1000. L&T intends to play a major role in the rapidly developing nuclear power sector by building strong partnerships with leading companies in the field.
Atomic Energy of Canada Limited is a full service nuclear technology company providing services to nuclear utilities around the world.