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Shares of Holtec Nuclear waste dismantlement partner, Quebec’s SNC-Lavalin Inc., dropped to the lowest since 2005, after SNC-Lavalin’s largest shareholder, the Caisse de depot et placement du Quebec, warned “that the embattled engineering firm had to move to emergency mode to improve its project execution. The CEO of Caisse de depot et placement du Quebec, Michael Sabia, refused talk about the potential “risk of a hostile takeover bid by foreign investors“. [1]

Embattled engineering firm” to help privately owned Holtec, about which we know little, apart from their history of apparent corruption, to dismantle US nuclear power stations: Pilgrim, Palisades, Oyster Creek, Indian Point, and perhaps more. And, it could be subject to a “hostile takeover”, which sounds like a potential Uranium One redux. Holtec is presumably owned by Kris Singh, but since it’s private, we really don’t know at all. It could be owned by India or almost anyone else.

In the news a week ago by World Nuclear News: “SNC-Lavalin and Holtec JV signs first contract“, 31 July 2019, “Comprehensive Decommissioning International (CDI), the joint venture company between SNC-Lavalin and Holtec International, has won its first commercial contract. Under the contract, which it said is worth “hundreds of millions of dollars”, CDI will be responsible for decommissioning, demolishing and cleaning up the site of the Oyster Creek nuclear power plant in New Jersey, USA. The US Nuclear Regulatory Commission (NRC) approved the transfer of the Oyster Creek licence from Exelon to Holtec in June and plant ownership was transferred on 1 July…. Sandy Taylor, president for nuclear at SNC-Lavalin said the contract is “just the beginning” of Camden, New Jersey-based CDI’s future in reactor decommissioning. Taylor added: “We are strong proponents of the future of carbon-free, nuclear power around the world, be it through the industry-leading expertise and technologies that we bring to nuclear new build and life-extending refurbishment projects, however, decommissioning is also becoming a significant part of our business. In the US alone, there are almost 100 nuclear reactors.” Agreements are also in place between Holtec and Entergy for its nuclear units at Indian Point in New York state, Palisades in Michigan and Pilgrim in Massachusetts, in which CDI will be the Decommissioning General Contractor, following each plant’s closure.” [2]

Yep, or as Canadians would say, yup. SNC-Lavalin Quebec pas Quebon. Since Entergy is in New Orleans, and SNC-Lavalin is in Montreal, one can but wonder if there’s some funny business going on between “les chers cousins Louisianais et Quebecois“. Is this renaissance of francophonie gone rogue?

[1] “SNC-Lavalin shares fall to lowest level since 2005 as Caisse demands answers” The Canadian Press, Posted: Aug 06, 2019 12:21 PM ET, CBC: https://archive.li/JTPE1
[2] “SNC-Lavalin and Holtec JV signs first contract“, 31 July 2019 https://www.world-nuclear-news.org/Articles/SNC-Lavalin-and-Holtec-JV-signs-first-contract