L&T signs pact with Canadian firm on nuclear reactor

New Delhi, Jan 22 (IANS) Soon after signing a pact with the US-based Westinghouse Electric to build nuclear reactors recently, engineering and construction major Larsen and Toubro (L&T) has signed a similar agreement with Atomic Energy of Canada Ltd (AECL), the company announced Thursday.

The new agreement, however, is subject to final approval of a bilateral nuclear cooperation agreement between the governments of India and Canada.

'L&T and AECL want to develop a competitive cost model for the ACR 1000 (nuclear reactor). Upon the completion of the model, L&T and AECL agree to begin discussions to develop nuclear power plants in India and utilise the capacity in global markets,' the Indian major said in a regulatory statement.

Last week, L&T announced an agreement with Westinghouse Electric to build nuclear power reactors, saying the pact would enable the two companies 'utilise indigenous capabilities for the turnkey construction of nuclear power plants including supply of reactor equipment and systems'.

Westinghouse technology is in use in over 40 percent of operating nuclear power plants globally, the statement added. A Toshiba Corp group company, the US firm supplies nuclear plant products and technologies to utilities across the world.

The deal came in the wake of the agreement signed between India and US last year on cooperation in the field of civilian nuclear power.