Decommissioning contract for SNC-Lavalin and Holtec

18 April 2019

Comprehensive Decommissioning International (CDI), a joint venture between Holtec (the majority partner) and Canada's SNC-Lavalin (the minority partner) has secured a $1 billion contract to decommission three nuclear reactors at the Indian Point nuclear plant in New York state after it has been shut down, defuelled and sold in the third quarter of 2021.

US Entergy Corp has agreed to sell the subsidiaries that own the three Indian Point units to a Holtec International subsidiary, subject to regulatory approvals.

CDI was retained by Holtec last year for the decommissioning and waste management of Entergy’s Pilgrim and Palisades nuclear plants.

The new contract adds high margin nuclear work to SNC-Lavalin’s existing $1.2 billion backlog of decommission and specialty nuclear engineering work reported at the end of 2018, Derek Spronck of RBC Capital Markets told the Canadian Press. .

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