Asia PR News

MISSISSAUGA, July 30 /CNW-AsiaNet/ –

Atomic Energy of Canada Limited (AECL) today announced it is building on
its excellent pre-project partnership with NB Power and is immediately
mobilizing and accelerating to meet the requirements of the Province of New
Brunswick and that it has committed to a fixed price and firm schedule for the
retubing and refurbishment of Point Lepreau.

"Clean, reliable, affordable power from Point Lepreau is crucial to the
continued economic well being of the people of New Brunswick," says AECL
President and CEO Robert Van Adel. "AECL has the people, the resources and the
proven track record to ensure this important project is completed successfully
and the Lepreau reactor continues producing power efficiently for another 25
years."

AECL has been working closely with NB Power, the Canadian Nuclear Safety
Commission and its many project partners for the past five years to assess the
plant’s condition, develop a comprehensive integrated project plan and
schedule and complete the scope and budget for the project.

AECL’s 25 years of actively supporting the operation of the station and
its strong working relationships with Point Lepreau staff, NB Power staff and
local suppliers enables the project team to continue working smoothly and
seamlessly. AECL fully intends to maintain its long-standing commitment to
hiring and working closely with qualified local labour and suppliers.

"The plant is in good condition going into refurbishment," says AECL
Chief Operating Officer Ken Petrunik. "NB Power has invested in maintenance
and improvements on an ongoing basis and we are confident the plant will
operate reliably for an additional 25 years once our work is done."

AECL is responsible for two aspects of the overall project: retubing in
which 380 fuel channels and associated feeder tubes will be removed and
replaced, and construction of a facility on site to store the removed active
material; and refurbishment, where aging components and outdated technology
will be removed and upgraded.

The plant owner, NB Power, will be responsible for other aspects of the
project including: normal shut down of plant for outage, removal of fuel,
heavy water, normal maintenance during outage, providing new fuel, reloading
heavy water and providing station staff to restart the plant.

About AECL

AECL is an integrated nuclear technology company providing services to
nuclear utilities worldwide. Our 3,200 employees are focused on delivering R&D
support, nuclear services, design and engineering, construction management,
specialist technology, and waste management and decommissioning in support of
CANDU reactor products. Additional information on AECL and its products can be
found at www.aecl.ca.

SOURCE: Atomic Energy of Canada Limited

CONTACT: Steve Skidd, Laurie Weir,
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