Canada to invest again in AECL

By staff writers

March 5, 2010 -- The Canadian government has unveiled plans to invest $300 million Canadian ($291 million U.S.) in Atomic Energy of Canada (AECL) to cover commercial losses and support operations.

The Calgary Herald reports the capital infusion will help cover cost overruns at AECL's Chalk River, Ontario, nuclear reactor, which currently is undergoing repairs. The facility, which supplies approximately half of the medical isotopes for North America, has been offline since last May due to a major water leak.

AECL's March 3 update noted that 46% of the repairs have been completed and expectations are that Chalk River will return to service at the end of April.

The latest round of funding is in addition to $182 million that the government already has allocated to AECL for repairs to Chalk River and other infrastructure upgrade projects.

Even with its investments in AECL, the Canadian government has expressed its desire to exit the medical isotope business when the nuclear reactor's license expires in 2016.

AECL: NRU reactor restart delayed, February 25, 2010

AECL confirms delay for Chalk River, January 29, 2010

Chalk River restart may be delayed, January 15, 2010

AECL requests uranium from U.S., January 7, 2010

AECL reactor repairs on schedule, December 24, 2009

Copyright © 2010


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