Another report in a continuing series
Why would anyone want to work in the nuclear industry after Fukushima? The answer is that on a global scale it is a rapidly growing field. The U.S. NRC is on the verge of licensing four new 1,100 MW Westinghouse AP1000 light water reactors. Two will be at Southern's Vogtle site in Georgia and two more will be at Scana's V.C Summer site in South Carolina.
Taken together the combined value of construction of the four reactors is in the range of $25-30 billion which also includes generators, turbines, transmission lines and substations. Each project will generate 3,000-5000 construction jobs and 800-1,000 permanent jobs.
TVA is completing the Watts Bar reactor in Tennessee and has recently awarded over a billion dollars in contracts to Areva for work on completing the Bellefonte reactor in Alabama.
Overseas there are even more opportunities so get a passport and hit the road. Here are some opportunities.
Exelon to provide nuclear consulting services in China
U.S. nuclear fleet operator Exelon (NYSE:EXC) will provide consulting and training services to China's state-owned China National Nuclear Corp. (CNNC). The fact that the deal was signed indicates China wants to boost its expertise in managing nuclear power plants and that it cannot grow the capability from within.
SNC Lavalin expects a profit after buying AECL
Canadian construction giant SNC Lavalin, which scooped up the reactor version of AECL for a song earlier this year, says it is forecasting profits. The first glint of green will come from the a contract to upgrade Argentina's Embalse Candu power station.
Reactor deals drive demand for uranium
A key indication of how the global nuclear industry is doing, and where it is headed, comes from investments in uranium mining. For the past few months a classic bidding war has been underway in Canada over a new uranium ore deposit in the Athabasca basis in Saskatchewan. The Roughrider deposit owned by Hathor (TSE:HAT) is the subject of competing offers from Canadian uranium giant Cameco (TSE:CCO) and an equally determined effort by Australian firm Rio Tinto (ASX:RIO).
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