(2016 April 14) As announced April 13, CNL has received a commitment for an $800 million investment over the next five years from AECL. This funding is outside of our current operating budget, and provides the dedicated funding we need to enable a complete transformation at our Chalk River site through renewed infrastructure and the construction of new facilities. It is a key part of achieving what we at CNL refer to as Vision 2026.
Through this investment, we have a tremendous opportunity to strengthen our entire organization. We have been given access to the financial resources to physically build a modern site; but, this alone is not sufficient for us to achieve our vision: sustainable, adaptable, world-class. We depend on our people to truly create value from investment by treating every dollar as it was our own; by delivering on our commitments on time and on budget; by seeking opportunities to gain efficiencies and by focusing on the needs of our customers.
In strengthening our organization, we generate further opportunities for CNL and for the nuclear industry in our country. We, the team at CNL, will turn this investment into advances in clean energy, in health, in safe and secure borders, in a clean and healthy environment and good environmental stewardship. We are building the capabilities to look beyond our traditional market segments, and when we do, the world is waiting!
For our local communities in the Upper Ottawa Valley, this announcement means we remain a stable, long-term partner and employer. We continue to rely on our skilled local workforce and the support of our neighbours in the community and region. The opportunities for our local supply chain will grow as CNL grows.
Nationally, we further establish our place as Canada’s national nuclear laboratory; one that is equipped with modern facilities for research that serves the needs of Canadians now and into the future. We continue to rely on, and will cultivate more, relationships across the country through our national supply chain. Through commercial and academic partnerships we will attract innovative companies to work beside us, and the best and brightest candidates to work for us.