Qinshan CANDU Project Construction Experiences and Lessons
Qinshan CANDU Project Construction Experiences and Lessons
Qinshan CANDU Project Construction Experiences and Lessons
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2003 February<br />
2. PROJECT COSTS<br />
The project was based on maximizing the extent of financing, as reflected in the Contract model<br />
<strong>and</strong> scope. The Contract <strong>and</strong> major subcontracts were lump sum <strong>and</strong> unit cost, which reduced<br />
risk to the owner.<br />
AECL arranged full financing of the foreign scope through the export credit agencies of EDC<br />
(Canada), US-EXIM (USA) <strong>and</strong> J-EXIM (Japan), including 85% of foreign content, plus 15% for<br />
local scope <strong>and</strong> Interest During <strong>Construction</strong> (IDC).<br />
The dollar values of the financing are as follows:<br />
EDC - Canadian financing $ 1228 M (Cdn.)<br />
EDC - Canadian financing for Korean supply $ 123 M (US)<br />
US EXIM - United States financing $ 192 M (US)<br />
J EXIM - Japan financing $ 223 M (US)<br />
ECGD - UK financing for European supply $ 43 M (US)<br />
TOTAL $1228 M (Cdn.); $581 M (US)<br />
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