Agreement signed for Joint Venture to build Advanced Fuel CANDU Reactor

About the AFCR™
The Advanced Fuel CANDU reactor (AFCR™) is a 700MW Class Generation III reactor based on the highly successful CANDU 6® and Enhanced CANDU 6® (EC6®) reactors with a number of adaptations to meet the latest Canadian and international standards. Its fuel flexibility allows it to use recycled uranium or thorium as fuel. It has a heavy-water moderator and heavy-water coolant in a pressure tube design. CANDU reactors can be refuelled on power and have one of the highest lifetime capacity factors among the world’s reactors.

News release from SNC-Lavalin 

MONTREAL, Sept. 22, 2016 /CNW Telbec/ - SNC-Lavalin (TSX: SNC) is pleased to announce it signed an agreement in principle for a new Joint Venture with China National Nuclear Corporation (CNNC) and Shanghai Electric Group Company Ltd. The new company would develop, market and build the Advanced Fuel CANDU Reactor (AFCR™). The creation of the joint venture in principle follows the signing of a framework agreement in 2014, and is subject to all government and regulatory approvals. 

The new company is expected to be registered in mid-2017, and would be followed by the formation of two design centres - one in Canada and another in China - to complete the AFCR™ technology. This could lead to construction of the world's first two AFCR™ in China, and possibly subsequent builds in China and around the world. 

Graphic from SNC-Lavalin AFCR Technical Summary

"This is a game changer in the nuclear industry, and a great endorsement of our expertise and CANDU nuclear technology from the largest nuclear market in the world," said Sandy Taylor, President, Power, SNC-Lavalin. "Each new build in China, and anywhere in the world, will benefit Canada in terms of job creation, innovation and nuclear research & development, environmental stewardship, and will contribute to reduce global carbon emissions." Canada's nuclear sector directly contributes to over $6 billion to the economy annually, employs more than 30,000 highly trained and specialized people, and creates an additional 30,000 jobs indirectly through contracting.

U.S. politicians act to speed licensing of new generation of nuclear power

You don't often see "unanimously passed a bipartisan bill", but...
US House unanimously passes advanced nuclear development bill

The U.S. House of Representatives unanimously passed a bipartisan bill Sept. 12 to facilitate development of advanced nuclear reactors.
The bill, H.R. 4979, or the Advanced Nuclear Technology Development Act of 2016, would require the NRC to form a framework for reviewing advanced reactor applications. The legislation comes as several older nuclear plants have shuttered or announced plans to close amid market pressures.
"The next generation of the nuclear industry needs to start now, with Congress ensuring that the Nuclear Regulatory Commission is able to provide the certainty that the private sector needs to invest in innovative technologies," said Rep. Bob Latta, R-Ohio, who introduced the bill along with Rep. Jerry McNerney, D-Calif.
The bill would require the NRC to submit a plan to Congress for creating a regulatory framework for advanced reactor licensing, including ways to expedite and streamline the licensing process.

continue reading at SNL 

For a better understanding of the issue, I highly recommend you read Jay Faison's NUCLEAR INNOVATION ISN’T WELCOME HERE: