Romania's Nucleareelctrica to give EUR 244 mln project management contract to Canadian Nuclear Partners

The management of Romanian nuclear company Nuclearelectrica (BVB: SNN) will ask for shareholders' approval for signing a EUR 244 million project management contract related to the refurbishment of its first nuclear unit with "Canadian Nuclear Partners S.A.," according to a note sent by the company to investors, quoted by Ziarul Financiar.

The contract will include, besides project management services, "technical assistance, consultancy, and staff training necessary for the preparation and implementation of the Unit 1 Refurbishment Project at the Cernavoda NPP," according to the note.

Canadian Nuclear Partners S.A. has been registered in Romania since 2020 as a subsidiary of Canada's Laurentis Nuclear Partners.

Laurentis was established in 2012 under the name Canadian Nuclear Partners and was renamed Laurentis Energy Partners in January 2020.

In Romania, however, Laurentis operates through a subsidiary that retains the original name, as Canadian Nuclear Partners S.A.; it opened an office in Bucharest in 2020.

Other Laurentis office locations and operations are in Toronto, Ontario, Canada; Pickering, east of Toronto; Port Elgin, in Bruce County, Ontario; Saint John, New Brunswick; and a research laboratory at McMaster Innovation Park in Hamilton, Ontario.

Laurentis Energy Partners prides to be an innovator and leader in the clean-energy industry, offering expertise in nuclear and hydro generation, inspections and engineering, nuclear transportation and materials recycling, small modular reactor licensing and development, the production of heavy water, and the production of medical isotopes.

(Photo source: Dreamstime.com)