A high-powered Indian business delegation led by Nuclear Power Corporation of India Limited (NPCIL) Associate Director F. Vohra arrived here today to accelerate bilateral investment and the transfer of technology in the field of nuclear energy between the two countries.

The delegation was welcomed by the Organisation of CANDU Industries (OCI), which represents more than 160 Canadian companies supplying goods and services in the field of nuclear energy.

The member companies of the OCI are looking forward to exploring the potential for new business relationships in the expanding nuclear industry with the Indian delegates.

The delegation is visiting Canada as part of a continuing series of meetings related to a Bilateral Nuclear Cooperation Agreement signed between Canada and India in June, 2010.

The Canadian and Indian governments are both completing the respective domestic legal processes required to effect the ratification and entry into force of the agreement.

“Member companies of the OCI have an impeccable reputation for excellence and we are very much looking forward to discussing potential business opportunities with the visiting Indian delegates,” OCI General Manager David Marinacci said.

“India has constructed 17 PHWRs on its own and has an ambitious nuclear expansion plan. India is looking for additional partners to its ongoing indigenous civil nuclear programme to accelerate the growth of nuclear power in India in collaboration with interested nuclear vendors,” he said.

“Canada’s nuclear supply chain industries are fully mobilised and capable of delivering to the most exacting international standards,” he added.

The Canadian nuclear industry is a USD 6.6 billion a year industry, generating more than USD 1.5 billion in federal and provincial revenues through taxes and more than 70,000 direct, indirect and spin-off jobs.

The Canadian Energy Research Institute (CERI) recently reported that Canada’s exports of nuclear-related materials and services totalled approximately USD 1.2 billion in 2008.

India has commenced construction of four pressurised Heavy Water Reactors of 700-MW each, with another six units in the planning stage.

In addition, one fast Breeder Reactor (500 MW) is under construction and several more are planned.

Many Light Water Reactors of above 1000-MW capacity are also planned with international cooperation and pre-project activities have commenced on several of these.

These will create business opportunities worth billions of dollars.